One of the top challenges buyers face in today’s housing market is finding a home that meets their needs. That’s largely because the inventory of homes for sale is so low today. If you’re looking to buy a home, you may have noticed this yourself. But there is good news. More houses are coming to the market in 2022.
Recent data shows more sellers are listing their houses this season, which may give you more options for your home search. The latest data from realtor.com shows the number of listings coming onto the market, known in the industry as “new listings,” has increased since the start of the year (see graph below):
This indicates more sellers are listing their homes for sale each month this year. And according to realtor.com, this growth will continue. Their research finds the majority of potential sellers plan to list their homes over the next six months. But while new listings are increasing, it’s important to know they’re also selling quickly. The chart below shows the median days on market for recently sold homes since the beginning of the year.
While a low-inventory market is difficult to navigate as a buyer, there is hope. The growing number of new listings is great news if you’ve had a hard time finding a home. Just remember, those new listings are going fast. You’ll want to be ready to act if you find a home you love this season.
Get pre-approved with ULT so that when you find your new home, you are ready to make a winning offer.
If you’ve been having a hard time finding your dream home, stick with your search. More options are coming to market and your ideal home could be one of them. Partner with the Ultimate Lending Team so you can be ready to move fast when you find the one that’s right for you.