For anybody who has been trying to make a home purchase in the last few years, it has certainly been a challenge. The lack of properties on the market for sale has made it very hard to find the right home and then actually get it by getting the best offer. However, this year things are looking up as inventory is taking a turn for the better.
There are more homes on the market in 2024 as per data shared by Realtor.com. If we examine the trends for each April for every year dating back to 2017 it is quite interesting. From 2017 to 2020 inventory was higher but then showed larger dips during 2021 and 2022. We experienced increases in 2023 but 2024 showed much more on the market comparatively for an upward trend. The change to positive growth of inventory is encouraging, but we are still not back to the higher levels that we had during 2017-2020.
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.”
If you have paused your purchase plans because of the void of selection then you might start seeing more options popping up these days.
Real estate is all about location and it is smart to make your connection with a real estate professional in the area of interest. An agent can help you get the status on the properties available in the area you are interested in. As Bankrate states: “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.”
Contact me today and let us know how we can help you with your real estate needs.
