Your Guide to the Housing Market: What You Need to Know

Thinking about moving? It's important to understand what's happening with homes for sale. Here's a quick update on the number of homes available, whether you're buying or selling.

In the housing market, there are regular patterns that happen every year—seasonality. Spring is the busiest time for buying homes, and that's when the most homes are usually listed for sale. In the second half of the year, the number of new listings typically goes down as sales slow down.

Now, let's look at a graph using data from Realtor.com to see what's going on this year:

2017-2019: These years (shown in blue and gray) follow the regular pattern, with normal trends.

2020: The orange line shows a big drop when the pandemic hit, and many sellers paused their plans to move.

2021-2022: The green and red lines are a bit more normal, but still not entirely regular.

2023: The black line represents this year, and it's unique. Unlike the usual drop in new listings, this year is stabilizing, and there are even more new listings compared to last year.

What Does This Mean for You?

For Buyers:
Stabilizing new listings is good news for you. It means more options are consistently entering the market, giving you more choices for your next home compared to last year.

For Sellers:
Even though new listings are not following the usual pattern, overall inventory is still lower than before the pandemic. This means prices aren't crashing. With less competition from other sellers, your house has a better chance to stand out and attract buyers.

Bottom Line:

Whether you're looking for a new home or thinking of selling, now might be a good time to make your move. If you have questions about homes in your area, connect with a real estate agent for help.

Keeping Current Matters. "The Surprising Trend in the Number of Homes Coming Onto the Market." Keeping Current Matters, 13 December 2023, https://www.keepingcurrentmatters.com/2023/12/13/the-surprising-trend-in-the-number-of-homes-coming-onto-the-market/

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