To make sure you don’t miss any of the latest listings in your area, it’s a good idea to reach out to a local real estate agent.
If you’ve been feeling frustrated by how few homes have been on the market these past few years, here’s some good news — things are finally opening up. There are more options out there now, so it might be a great time to start your home search again. As Daryl Fairweather, Chief Economist at Redfin, puts it:
“Now is the best time to buy in the last two years. Mortgage rates are comparable to what they were two years ago, and prices remain high. However, there is significantly more inventory . . .”
There are more homes for sale now than there were this time last year — and even more are expected to hit the market soon. That’s pretty normal for the busy spring season, but here’s why it really matters right now.
Homeowners are putting their houses on the market faster than we’ve seen in quite some time.
More Homes Are Hitting the Market
Over the past few months, we’ve been seeing a steady increase in new listings — that means more homes are being put up for sale (check out the graph below):
Basically, more and more people are listing their homes each month — whether they’re upgrading, downsizing, or making a move to a new area. It’s a good sign that things are picking up in the housing market.
Sellers who’ve been on the fence the past few years are finally starting to jump back in — and that’s helping boost the number of homes on the market. It’s great news for buyers and also for those looking to sell and move up.
And it’s not just that there are more new listings month-over-month — there’s also been a noticeable increase compared to this time last year.
According to Realtor.com, new listings in March were up 10.2% compared to last year — making it the biggest March for new listings since 2021 (check out the graph below):
If you’ve been waiting for more choices, this is exactly what you’ve been hoping for. More homes hitting the market means more options and a better chance of finding one that’s just right for you.
Bottom Line
If you’re thinking about making a move this spring, now could be the perfect time to start looking around. With more new listings popping up, there might be a home you’ll love just waiting for you.What features or neighborhoods are you hoping to find in your next home?
