Number of Houses for Sale Up from Last Year, but Lower Than Pre-Pandemic Years
The housing market's biggest problem right now, and probably for years to come, is the imbalance between the number of homes available for purchase and the number of people who want to make a purchase. This makes it a great time to sell your home if you're considering doing so. A market with fewer houses for sale than it did in the years preceding the pandemic would welcome your home.
According to the latest Monthly Housing Market Trends Report from realtor.com:
“There were 65.5% more homes for sale in January compared to the same time in 2022. This means that there were 248,000 more homes available to buy this past month compared to one year ago. While the number of homes for sale is increasing, it is still 43.2% lower than it was before the pandemic in 2017 to 2019. This means that there are still fewer homes available to buy on a typical day than there were a few years ago.”
The graph below shows how today’s inventory of homes for sale compares to recent years:
What Does This Mean for You?
Fewer homes for sale means buyers have fewer choices than they did prior to the pandemic—and that frustration is leading some to give up on the homebuying process altogether. But with mortgage rates sitting lower than they were at their peak last fall, more buyers are willing to come back into the process—they just need to find homes to buy. This is a welcome activity for the spring market, especially if you’re thinking of selling your house.
With a renewed interest in buying a home, the New York Times (NYT) reports:
“Home buyers are edging back into the market after being sidelined last year . . .”
So, if you want to take advantage of a sweet spot in the market, this spring could be your shot.
To satisfy the demand of today's buyers, the housing market needs more houses for sale. The time is now for us to get in touch and prepare for you to move this spring if you've considered selling.