The Number of Homes for Sale Is Increasing

There’s no denying the last couple of years have been tough for anyone trying to buy a home because there haven’t been enough houses to go around. But things are starting to look up.

There are more homes up for grabs this year. The graph below uses the latest data from Realtor.com to show in April 2024 there were more homes for sale than there were over the last few years (2021-2023):

 

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.”

But does this growing inventory make house hunting easier? Yes and no.

Using the latest weekly data from Calculated Risk, the graph below shows, that even with the growth lately, there are still way fewer homes for sale than there were in the last normal year in the housing market:

What Does This Mean for You?

If you’ve been looking to buy but put your plans on hold because you just couldn’t find what you were searching for, you might see more options now than you did over the past few years – but don't expect a huge selection.

To check out your growing options, it's a good idea to work with a local real estate agent you trust. Real estate is all about location. And an agent can help you get the scoop on the homes available in the area you're interested in. Bankrate explains:

“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 who can keep you in the loop on everything that might impact your move, like how many homes are up for sale right now.

 

Thinking of Selling? You Want an Agent with These Skills

Selling your house is a big decision. Your home is one of the biggest investments you’ve probably ever made, and it’s a place where you’ve created countless memories. That combo means there’s going to be a lot of emotions involved. You want someone who understands your perspective, knows what it feels like, and is an expert at helping homeowners just like you navigate the process of selling a home.

That’s where a good listing agent, also known as a seller's agent, comes in. Here are just a few skills you’ll want your agent to have.

The Ability To Turn Something Complex into Something Simple

Some agents are going to use big, fancy real estate terms to try and impress you. But you shouldn’t have to know all the industry jargon in order to understand what they’re saying. If anything, it's an agent’s job to keep it simple, so you don’t get overwhelmed or confused.

A great agent is going to be someone who is very good at explaining what’s happening in the housing market in a way that’s easy to understand. But they’ll take it one step further than that. They’ll explain what’s going on and, specifically, what that means for you. That way you’re always in the loop and it's a lot easier to feel confident when you’re making a big decision. As Business Insider explains:

“Maybe you have a better rapport with one of the agents you're considering, or you just feel like they're easier to approach. You're going to be working closely with this person, so it's important to choose an agent you're comfortable with.”

A Data-Based Approach on How To Price Your House

While it may be tempting to pick the agent who suggests the highest asking price for your house, that strategy may cost you. It’s easy to get caught up in the excitement when you see a bigger number, but overpricing your house can have consequences. It could mean your house will sit on the market longer because the higher price is actually turning away buyers.

Instead, partner with an agent who’s going to have an open conversation about how they recommend you should price your house. They won't throw out a number just to win your listing. A great agent will back up their number with solid data, explain their pricing strategy, and make sure you're both on the same page. As NerdWallet explains:

“An agent who recommends the highest price isn't always the best choice. Choose an agent who backs up the recommendation with market knowledge.”

A Fair, but Objective Negotiator

The home-selling process can be emotional, especially if you’ve been in your house for a long time. But that sentimental tie can make it harder to be objective during negotiations. That’s where a trusted professional can really make a difference.

They’re skilled negotiators who know how to stay calm under pressure. You can count on them to handle the back-and-forth and have your best interests at heart throughout the process. Not to mention, they’ll be able to rely on their market expertise and what they’re seeing work in other transactions to offer the best advice possible. As Rocket Mortgage explains:

“Whether this is your first or third time selling a house, listing agents work to help make the home selling process smoother and less stressful. These real estate professionals know the ins and outs of the industry and can help you secure the best deal.”

Bottom Line

Whether you're a first-time seller or you’ve been through this before, a great listing agent is the key to your success. Let’s connect so you have a skilled local expert by your side to guide you through every step of the process.

 

The Sun Is Shining on Sellers This Summer 

Some Highlights

• If your needs have changed, now’s a great time to sell and get the features you want most.
• Many buyers are eager to move between the school years, so you may see a faster sale, multiple offers, a higher final sales price, and more.
• If you want to get your house ready for a summer listing, let’s connect.