More Homes, Slower Price Growth – What It Means for You as a Buyer

There are more homes on the market right now than there have been in years – and that could be a game changer for you if you’re ready to buy. Let’s look at two reasons why.

You Have More Options To Choose From

An article from Realtor.com helps explain just how much the number of homes for sale has gone up this year:

“There were 29.2% more homes actively for sale on a typical day in October compared with the same time in 2023, marking the twelfth consecutive month of annual inventory growth and the highest count since December 2019.”

And while the number of homes on the market still isn’t quite back to where it was in the years leading up to the pandemic, this is definitely an improvement (see graph below):
a graph of a number of homes

With more homes available for sale now, you have more options to choose from. As Hannah Jones, Senior Economic Research Analyst at Realtor.com, explains:

“Though still lower than pre-pandemic, burgeoning home supply means buyers have more options . . .”

That means you have a better chance of finding a house that meets your needs. It also means the buying process doesn’t have to feel quite as rushed, because more options on the market means you’ll likely face less competition from other buyers.

Home Price Growth Is Slowing

When there aren’t many homes for sale, buyers have to compete more fiercely for the ones that are available. That’s what happened a few years ago, and it’s what drove prices up so quickly.

But now, the increasing number of homes on the market is causing home price growth to slow down (see graph below):
a graph of green and blue lines

In certain markets, the number of available homes has not only bounced back to normal, but has even surpassed pre-pandemic levels. In those areas, home price growth has slowed or stalled completely. As Lance Lambert, Co-Founder of ResiClub, explains:

“Generally speaking, housing markets where active inventory has returned to pre-pandemic 2019 levels have seen home price growth soften or even decline outright from their 2022 peak.”

Slower or stalled price growth could give you a better chance of finding something within your budget. As Dr. Anju Vajja, Deputy Director at the Federal Housing Finance Agency (FHFA), says:

“For the third consecutive month U.S. house prices showed little movement . . . relatively flat house prices may improve housing affordability.”

But remember, inventory levels and home prices are going to vary by market.

So, having a real estate agent who knows the local area can be a big advantage. They can help you understand the trends in your community, which can make a real difference in finding a home that fits your needs and budget.

Bottom Line

More housing options – and the slower home price growth they bring – can help you find and buy a home that works for your lifestyle and budget. So don’t hesitate to reach out if you want to talk about the growing number of choices you have right now.

105 Responses

  82. Been kicking around 750bet1 recently, and gotta say, it’s not a bad little site. Decent selection of games and the payouts seem fair enough. Worth a punt in my book. Have a look at 750bet1!

    Reply

  86. WOW Vegas is a exceptionally rated free-play policy with thousands of slots and forceful player rewards programs. Proper and unimperilled, it lets users make use of wow casino vibes while collecting Sweepstakes Coins for implicit real rewards.

    Reply

  100. Unlock non-stop thrills at DraftKings table games Casino! Bet $5 to grab 500 free spins on Cash Eruption and enjoy up to $1,000 lossback protection in your first 24 hours. From classic blackjack to explosive slots—your next big win starts here.

    Reply

  104. Join the millions winning big on fanduel casino real money – the #1 tangible in dough casino app in America.
    Pick up your $1000 PLAY IT AGAIN gratuity and turn every relate, hand and rolling into real banknotes rewards.
    Irresponsibly payouts, gigantic jackpots, and continuous activity – download FanDuel Casino again and start playing like a pro today!

    Reply

  105. Join the millions enchanting strapping on fan maxxwins – the #1 natural pelf casino app in America.
    Reach your $1000 TEASE IT AGAIN bonus and turn every twirl, hand and rolling into legitimate coin of the realm rewards.
    Fast payouts, huge jackpots, and habitual fight – download FanDuel Casino now and start playing like a pro today!

    Reply

Leave a Reply to Qejkyj Cancel reply

Your email address will not be published. Required fields are marked *