If you’re contemplating a move, staying informed about the current state of the housing market is essential. To provide you with the latest insights, here’s an update on the supply of homes for sale today. Whether you’re a prospective buyer or seller, the number of available homes in your local market is a critical factor to consider. Let’s dive into the truth about today’s housing inventory.
For the past few years, the prevailing narrative has revolved around the scarcity of homes on the market. However, recent national data might leave you somewhat perplexed. Realtor.com’s data indicates that inventory is experiencing slight month-over-month growth in many parts of the country (see the blue states in the map below):
As depicted in the map, housing supply increased by just over 5% on a national level last month. But does this mean the era of limited inventory is behind us? Not quite. Context is crucial. While you may come across headlines suggesting an increase in inventory, it’s important to note that there are still significantly fewer homes for sale compared to what would typically be available in a more conventional market.
The graph below provides a comparative view of the latest active listing counts (homes currently available for sale) with the inventory levels observed during the housing market’s more standard years (2017-2019):
So, what does this mean for you? Remember, real estate is inherently hyper-local. Collaborating with a trusted real estate agent is the key to gaining a comprehensive understanding of the inventory situation in your specific market.
If you’re in the market to buy, you may have a slightly broader range of options compared to recent months, but be prepared for the challenge of low inventory. An experienced agent can share their expertise and offer essential strategies that have helped other buyers navigate the ongoing issue of limited housing supply.
On the flip side, if you’re considering selling, rest assured that you haven’t missed your opportunity to potentially receive multiple offers or witness a swift sale. While national inventory has seen a modest increase, it remains relatively low and may be even scarcer in your local area.
Whether you’re looking to buy or sell a home, it’s crucial to stay updated on the latest trends that could impact your real estate journey, including the current state of housing supply. At The Freund Group, we specialize in serving League City and the surrounding areas, providing you with the local insights and expertise needed to make well-informed decisions. Connect with us today, and let’s navigate the dynamic real estate landscape together!