The Number of Homes for Sale Is Increasing

The Number of Homes for Sale Is Increasing

It's undeniable that the past few years have been challenging for anyone looking to buy a home, largely due to a shortage of available houses. However, the situation is beginning to improve.

This year, there's an increase in the number of homes on the market. The graph below, which utilizes the latest data from Realtor.com, illustrates that in April 2024, there were more homes for sale than in the previous years from 2021 to 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.”

While the increasing inventory of homes suggests improvements in the market, the situation for house hunters is a bit more complex—both easier and more challenging.

According to the latest weekly data from Calculated Risk, the graph below demonstrates that despite recent growth in the number of homes available, the current inventory still falls significantly short of levels seen in the last normal year in the housing market:

What Does This Mean for You?

If you've paused your home buying efforts due to a lack of suitable options, you might find that there are more properties available now than in recent years—though the selection may not be vast.

To explore your expanding choices, partnering with a trusted local real estate agent is advisable. Real estate heavily depends on location, and an agent can provide detailed information about the homes available in your area of interest. Bankrate highlights the importance of this approach:

“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 to keep you informed about everything that might impact your move, such as the current number of homes on the market.