Hey, house hunters! If you’ve been holding out for the perfect time to jump into the housing market, good news: there are more homes up for grabs right now than we’ve seen in years. And here’s the kicker—it’s not just about having more options; slower price growth might mean your dream home is closer to reality than you thought. Let’s dive into what’s happening and why more homes and slower price growth matters for you.
More Homes, More Choices
Picture this: walking into a store and finally finding shelves fully stocked after months of scarcity. That’s pretty much what’s happening in the housing market. Inventory—the fancy term for “homes for sale”—has been climbing steadily.
Last October, there were nearly 30% more homes actively for sale compared to the same time the year before. That’s the highest count we’ve seen since late 2019. Sure, we’re not quite back to the pre-pandemic levels yet, but this bump in available homes is a breath of fresh air for buyers who’ve been feeling the squeeze.
What does this mean for you? First, it’s all about options. With more homes on the market, you’re more likely to find something that checks your “must-have” boxes—whether it’s that gourmet kitchen, extra bedroom, or a yard for your pup. Plus, the increased supply means you won’t feel as pressured to make snap decisions. Less competition from other buyers? Yes, please!
Home Prices Are Cooling Off
Remember when homes were selling faster than concert tickets, with prices climbing higher than anyone thought possible? That was all thanks to low inventory and high demand. But now that there are more homes to go around, price growth is slowing down.
Some markets are seeing prices flatten out or even dip slightly compared to their 2022 peaks. This gives you a much better shot at snagging a home within your budget. And when prices aren’t racing upward, you’ve got more room to negotiate or think creatively about financing options.
Even on a national level, housing prices have been holding steady for a few months now. That’s great news for affordability, especially for first-time buyers who’ve been priced out in recent years.
Why Local Expertise Matters
Now, here’s the thing: while these trends are happening nationwide, every market has its own quirks. Some areas might still feel tight, with limited inventory keeping prices on the higher side. Other places might look like a buyer’s paradise, with plenty of homes and slowing price growth creating ideal conditions for scoring a deal.
That’s where I come in. As your go-to real estate agent, I keep tabs on what’s happening right here in our area. Whether it’s knowing which neighborhoods have the best options or helping you understand how price trends impact your budget, I’m here to guide you every step of the way.
What Does This Mean for You?
So, what’s the takeaway? The combination of more homes and slower price growth means the market is shifting in your favor. It’s no longer the frantic rush it used to be—you’ve got time to breathe, explore your options, and make a thoughtful decision.
Need help navigating this new landscape? Let’s talk. Whether you’re ready to dive into the market or just dipping your toes, I’m here to help you find a home that fits your lifestyle and budget.
FAQs
Why are there more homes on the market now?
The slowdown in buyer activity combined with more homeowners listing their properties has led to increased inventory, giving buyers more choices.
Is the increase in homes available nationwide?
While the trend is national, inventory levels vary by location. Some markets have more homes available, while others are still experiencing tight supply.
How does slower price growth benefit buyers?
When price growth slows, homes become more affordable, giving buyers a better chance to find something within their budget and even negotiate better terms.
Does slower price growth mean prices will drop?
Not necessarily. Slower growth means prices aren’t climbing as quickly, but it doesn’t always mean they’re decreasing. It’s all about balance in the market.
What’s the first step if I’m ready to buy?
Start by connecting with a real estate agent (that’s me!) to discuss your needs and goals. We’ll review your budget, market trends, and next steps to find your ideal home.
How long will this favorable market last for buyers?
The market is always evolving. If you’re thinking about buying, now’s a great time to act while inventory is up and price growth is slower.
Anytime between “now” and “right now” is a good time to take action on shaping your best life, and that includes where you live. Let’s get the ball rolling on your next steps.
(702) 374-6807. Or drop me a line here.
