House Hunting Just Got Easier – Here’s Why

If you’ve been frustrated by the lack of homes for sale over the past few years, here’s some good news. You have more options, so it may finally be time to kick off your home search again. As Daryl Fairweather, Chief Economist at Redfin, explains:

“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 . . .”

The number of homes for sale has grown compared to last year, and even more options are coming. While this is typical for the busy spring season, it is essential now.

Homeowners are listing their houses at the highest pace we’ve seen.

New Listings Are on the Rise

Over the past few months, the number of new listings, or homes that have recently been put on the market for sale, has been steadily rising (see graph below):

Basically, more people are putting their homes on the market each month—whether they’re moving up, downsizing, or relocating. This trend is a positive sign for the housing market.

Sellers who may have been on the fence the past few years are starting to jump back in. This is helping to boost overall inventory and create better opportunities for buyers and move-up sellers alike.

But the number of fresh options is up month over month and has also jumped compared to last year.

According to Realtor.com, new listings in March were 10.2% higher than last year, making it the most significant March for new listings since 2021 (see graph below):

For anyone waiting for more choices, this is precisely what you’ve been hoping for. More homes coming onto the market mean more options and a better shot at finding one that fits your needs.

To ensure you don’t miss out on any of the latest listings for your area, lean on a local real estate agent.

Bottom Line

If you’re considering moving this spring, now may be the time to start exploring your options. With more fresh listings hitting the market, you may find a home you love waiting for you.

What features or neighborhoods are at the top of your wish list?