The Number of Homes for Sale Is Increasing

The Number of Homes for Sale Is Increasing

There’s no denying that the past few years have been challenging for anyone trying to buy a home due to the limited availability of houses. However, things are beginning to improve.

This year, more homes are available on the market. The graph below, using the latest data from Realtor.com, shows that in April 2024, there were more homes for sale than in the previous few 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 easier? The answer is both yes and no.

According to the latest weekly data from Calculated Risk, the graph below illustrates that, despite the recent increase, there are still significantly fewer homes for sale compared to the last normal year in the housing market:

What Does This Mean for You?

If you've been looking to buy but put your plans on hold because you couldn't find what you were searching for, you might now see more options than in the past few years—though the selection still isn't vast.

To explore these growing options, it's beneficial to work with a trusted local real estate agent. Real estate is all about location, and an agent can provide you with valuable insights on homes available in your desired area. As 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.”

Bottom Line

Let's team up so you have someone who can keep you informed about everything that might affect your move, such as the current number of homes available for sale.