New Listings Bounce Back In Many Metros
Shopping for a home to buy can be challenging in markets where there aren't many homes for sale. For one, it's more difficult to find an available house in the right neighborhood with the right features.
Then, when you do find one, you often have to outbid other prospective buyers who also want it. But, while the number of homes for sale is still lower than normal, you shouldn't let the current inventory crunch put your home-buying plans on hold. Why?
Well, there's an expectation that this year's market will see inventory rebound from the declines suffered in 2021. And, according to a new report from the National Association of Realtors' consumer website, there is already evidence that new listings are beginning to bounce back.
In fact, December data shows 20 percent of the 50 largest U.S. metros saw more new sellers enter the market than last year at the same time – and some of those cities saw double-digit increases.
That doesn't mean those markets won't still be competitive but it does offer hope to home buyers that they'll have an easier time finding a house that fits their needs.* Specific loan program availability and requirements may vary. Please get in touch with the mortgage advisor for more information.