Inventory is picking up after a slow start to the year, so there are more options than ever before. However, this doesn’t necessarily mean that prices are dropping. In fact, we believe that both supply and demand will continue to rise in the coming months. There are currently fewer homes on the market than at any point in the past two years – so even though there is more inventory this time around, buyers still have less to choose from. This means that if you’re looking to buy now or in the near future, it’s a great time to get your search started. Inventory is rising primarily because of an uptick in new homes being listed for sale by developers who had kept them off the market during last year’s sellout conditions. At the same time, sales appear to be slowing as buyers continue to sit on the sidelines waiting for more inventory.
Rising Inventory Means Better Options For Buyers
Home shoppers may have to put in more time and effort to find the right property, but they have a better chance of finding it. With fewer buyers competing for each home on the market, buyers may be able to negotiate better deals and have more flexibility in terms of financing and the type of home they buy. Additionally, buyers have time to look around and see what’s available before their desired date to purchase.
Buyers are seeing more homes for sale
Buying a home is often a combination of timing and luck. Buyers who had their sights set on a tight inventory market and rising home prices earlier this year had to either scale back their home buying goals or be more patient than they would have liked. Since early spring, buyers have seen more inventory and better options come onto the market, which is great news for homebuyers who have been waiting for the right combination of inventory and prices. Less competition among buyers means more options, lower prices, and better terms and deals.
Prices Are Stabilizing – But Don’t Expect a Drop Just Yet
Price growth in 2019 has been slower than expected, due to both a lack of inventory and less demand from buyers. As inventory has increased, it has put a slight damper on rising prices. However, we believe that prices will continue to rise for the remainder of the year. However, it’s important to note that even though prices are rising, they’re still below their peak from last summer. This means that buyers who are waiting for prices to drop to make a purchase are out of luck. Along with rising inventory, we’re also seeing a slight uptick in sales, which indicates that demand is continuing to rise, which will continue to put upward pressure on home prices.
Real Estate Agents Are Seeing More Inventory
Real estate agents are seeing more inventory come onto the market than they have in years – and this is a great sign for buyers and sellers. For agents, it means that buyers have more options – which can often translate into more business. For sellers, it means that there is more inventory for buyers to pick from, which could result in a faster sales cycle, and ultimately, a faster closing date.
Where Will Inventory Rise?
The majority of the increase in inventory is happening in the Northeast and South. The Northeast has seen a significant increase in the number of new homes listed, while the South has seen an uptick in the number of existing homes listed for sale. Most of the increase has been in the lower-priced end of the market. Rising inventory in the lower-priced end of the market is good news for homebuyers who are looking to purchase in this price range.
What Does This Mean for Buyers?
Rising inventory is good news for homebuyers, but it doesn’t mean that buying conditions are back to normal. Even with a significant increase in inventory, there are still fewer homes for sale than there were this time last year – when inventory was record-low. That said, there are more options to choose from, and buyers may have a little more leverage in the negotiation process.
The housing market is continuing to recover from last year’s slowdown, and increasing inventory is a good sign. While there are more homes available, buyers will still have to put in effort to find the right one. We believe that inventory will continue to rise as we head into the spring and summer. However, this doesn’t necessarily mean that prices will drop. Rising inventory and demand will put more pressure on prices, which will likely continue to rise.
What does this mean for sellers?
The slight increase in inventory is good news for sellers, as it could help speed up the sales process. However, it’s important to note that while prices may be slower to rise than they were last year, they’re still expected to rise. If you’re considering selling your home in the coming months, it’s a great opportunity to get your home ready to hit the market.
The slight uptick in inventory is good news for homebuyers and sellers alike. It means that there are more options for buyers and that it may be easier to sell your home in the next couple of months. However, it’s important to note that even with significantly more inventory on the market, there are still fewer homes for sale than we would normally see in this time of year. This means that buyers will still have to put in effort to find the right home, as there are more buyers for each property. 2019 will be an interesting year for the real estate market. While there is more inventory, it’s important to remember that there are fewer buyers. If you’re looking to purchase a home in the coming months, it’s a great time to get your search started.