There’s no denying that the past few years have been challenging for people looking to buy a home because there aren’t enough homes available. But things are getting better. There are many houses to buy this year.
The chart below uses the latest data from Realtor.com, which shows that more homes were sold in April 2024 than in previous years (2021-2023).
As Realtor.com explains:
“There were 30.4% more homes actively for sale on a typical day in April compared with the same time in 2023, marking the sixth consecutive month of annual inventory growth.”
But does this growing inventory make house hunting any easier? Yes and no. The graph below, based on Calculated Risk’s latest weekly data, shows that despite recent growth, the housing market still has far fewer homes for sale than usual.
What does it mean to you? If you want to buy, but you are looking, you can see more options in recent years, but you may not wait for a big choice. To explore your growth options, it is best to work with a trusted local broker.
In real estate, location is important. A real estate agent can help you keep up to date with available properties in the area you are interested in. Bankrate explains:
“In today’s homebuying market, it’s more important than ever to find a real estate agent who really knows your local area — down to your specific neighborhood — and can help you successfully navigate its unique quirks.”
