Number of Homes for Sale Up from Last Year, but Below Pre-Pandemic Years

Number of Homes for Sale Up from Last Year, but Below Pre-Pandemic Years

The biggest challenge in the housing market right now, and likely for years to come, is how few homes there are for sale compared to the number of people who want to buy. That’s why, if you’re thinking about selling your house, this is a great time to do so. Your house would be welcome in a market that has fewer homes for sale than it did in the years leading up to the pandemic.

 

According to the latest Monthly Housing Market Trends Report from realtor.com:

“There were 65.5% more homes for sale in January compared to the same time in 2022. This means that there were 248,000 more homes available to buy this past month compared to one year ago. While the number of homes for sale is increasing, it is still 43.2% lower than it was before the pandemic in 2017 to 2019. This means that there are still fewer homes available to buy on a typical day than there were a few years ago.”

The graph below shows how today’s inventory of homes for sale compares to recent years:

What Does This Mean for You?

Fewer homes for sale means buyers have fewer choices than they did prior to the pandemic—and that frustration is leading some to give up on the homebuying process altogether. But with mortgage rates sitting lower than they were at the peak last fall, more buyers are willing to come back into the process—they just need to find homes to buy. This is welcome activity for the spring market, especially if you’re thinking of selling your house.

With a renewed interest in buying a home for many, the New York Times (NYT) reports:

“Home buyers are edging back into the market after being sidelined last year . . .”

So, if you want to take advantage of a sweet spot in the market, this spring could be your shot.

Bottom Line

The housing market needs more homes for sale to meet the demand of today’s buyers. If you’ve thought about selling, now’s the time for us to connect and get ready for you to make a move this spring.


Recent Blog Posts

Stay up to date on the latest real estate trends.

Homeowners Name the Top Reasons Owning a Home is Important to Them

Countless people have set out on the exciting journey of homeownership. Ask around and you’ll find the vast majority are thankful they took the leap and bought a home.… Read more

San Francisco Market Update - November 2023

The median single-family home price rose 14% over the past three months. Condo prices have trended horizontally throughout 2023. Minor price changes are typical in the… Read more

East Bay Market Update - November 2023

The median single-family home and condo prices declined in the East Bay month over month. Year over year, prices in Alameda increased 2% for single-family homes and 1%… Read more

The Latest 2024 Housing Market Forecast

Looking forward, experts project home prices will continue to rise next year, but not quite as much as they did this year. Even though the expected rise in 2024 isn't … Read more

How VA Loans Can Help Make Homeownership Dreams Come True

For more than 79 years, Veterans Affairs (VA) home loans have helped millions of veterans buy their own homes. If you or someone you care about has served in the milit… Read more

Thinking About Using Your 401(k) To Buy a Home?

Are you dreaming of buying your own home and wondering about how you’ll save for a down payment? You're not alone. Some people think about tapping into their 401(k) sa… Read more

What Are Accessory Dwelling Units and How Can They Benefit You?

ADUs allow loved ones to live together while having separate spaces. That means you can enjoy each other’s company and help each other out with things like childcare, … Read more

San Francisco Market Update - October 2023

Overall, median prices have trended horizontally over the past 12 months. Considering the rapidly rising interest rates, homes have maintained their value well. Active… Read more

East Bay Market Update - October 2023

Year over year, single-family home and condo prices were up across the East Bay. Contra Costa condo prices rose most significantly, up 18% since last September. We exp… Read more

Let’s Talk

You’ve got questions and we can’t wait to answer them.