Increased Housing Inventory: More Homes for Sale in 2024

Increased Housing Inventory: More Homes for Sale in 2024

The past few years have been challenging for homebuyers due to a shortage of available houses. However, the situation is starting to improve.

This year, the number of homes on the market has increased. The latest data from Realtor.com shows that in April 2024, there were more homes for sale than in the past few years (2021-2023):

According to Realtor.com:

“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.”

Does this increase in inventory make house hunting easier? The answer is both yes and no.

The latest weekly data from Calculated Risk indicates that despite recent growth, there are still significantly fewer homes for sale than in the last normal year in the housing market:

What Does This Mean for You?

If you've been postponing your home search because you couldn't find suitable options, you might notice more choices now than in recent years. However, the selection is not overwhelmingly large.

To explore these growing options, it's wise to work with a trusted local real estate agent. Real estate is highly location-specific, and an agent can provide insights into the homes available in your desired area. As Bankrate notes:

“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 to ensure you stay informed about everything that might affect your move, including the current number of homes for sale.