Realtor.com released their Housing Trends report on housing inventory and they showed that new listings, which are a measure of homes getting newly listed for sale, were up the week of May 4th by 3.6% from one year ago. Active inventory also increased, with available inventory up 35.1% from this time last year! Additionally, homes spent one day less on the market when compared with this same time last year which proves homebuyer demand is very resilient. This data set marks the 26th straight week where there were more homes listed for sale when compared with the prior year and this certainly shows that there may be a few more options for homebuyers currently, by way of inventory and more in the near future. Not everyone who sells their home plans to purchase a new home, but about 75% do. And there is certainly pent-up inventory brewing as sellers are distracted less by market fluctuations this year and as interest rates are easing.
Source : https://bit.ly/3UUnKZe
By: Jon Iacono