Looking at the active monthly listings for 2021 (shown in this chart), we can see that inventory is still increasing fairly steadily since spring. The realtor data shows us a decrease month-over-month but September numbers were up slightly, so it looks like this trend will continue into next year as well!
The latest monthly numbers show that buyers have more options to choose from than they did this spring. At the end of September, there's a sense among potential homebuyers who were hesitant because it had been so hard in recent months find a house - now things are looking up!
Mortgage rates remain low and demand for homes has increased meaning competition might be on its way back down again soon enough which should help bring prices closer toward fair value where both sellers and buyer will feel confident about their purchase decision . It sounds like we're finally getting close to bottoming out here after having seen inventory levels at all time lows last year.
Danielle Hale, chief economist at realtor.com puts it this way: "The latest monthly numbers show growth!" This is encouraging for buyers who may have paused their search months ago because they had trouble finding a home!
No comments:
Post a Comment