In today's housing market, finding a home that fits your needs is one of the biggest challenges buyers face, according to a recent NAR survey. This is largely due to a lack of available properties on the market at the moment.

If you're on the market for a house, you've probably observed this trend. However, there is some positive news to report. More sellers are putting their homes on the market this season, according to the latest information, which could provide you with more options in your home hunt.

Early Signs Inventory May Be Growing

Since the beginning of the year, according to the most recent statistics from realtor.com, the number of properties coming to the market has grown (see graph below):

This indicates more sellers are listing their homes for sale each month this year. Realtor.com expects the trend to continue, as well Many potential sellers expect to put their houses on the market within the next six months, according to their findings. In the words of Realtor.com, "

“. . . markets may see a noticeable bump in the number of homes for sale as we move through spring and into summer. A majority of homeowners planning to sell this year indicated that they aim to list in the next six months, with almost 10% having already placed their properties on the market”

Homes Are Still Selling Quickly

While the number of new listings is increasing, it's important to remember that those that do go on the market are selling quickly. The median days on market for recently sold properties since the beginning of the year are seen in the latest Realtors Confidence Index from NAR (see chart below). Month by month, the time spent on the market has decreased. That means that homes are selling significantly faster than they did in the previous month.

What That Means for You

While a low-inventory market is difficult to navigate as a buyer, there is hope.  If it has been difficult for you to find a property that meets your requirements, the increasing number of new listings and the possibility that more sellers will market their properties in the coming months are good signs. Remember that these fresh listings are moving quickly. This means you should keep your foot on the gas and be ready to act if you come across a home you like this season.

Lydia Gable Realty Group can help you stay up to date on the latest listings in your area so you can find the right home for you and make the best offer as soon as possible.

Bottom Line

If you’ve been having a hard time finding your dream home, keep looking.  More options are coming to the market, and your ideal home could be one of them. Let's connect so you can stay up to date on the latest listings in our market and be ready to act quickly when you find the one for you.