Home Inventory is Growing

So, you know how folks looking to buy a house have been struggling lately because there just aren't enough homes up for sale? Well, guess what? Things are finally starting to look up on that front.

The graph below uses the latest data from Realtor.com to show there are more homes on the market in 2024 than there have been in any of the past several years (2021-2023):

As an article from Realtor.com says:

“There were nearly 15% more homes for sale in February than a year earlier . . . That alone could jolt the housing market a bit if more “For Sale” signs continue to appear. However, the nation is still suffering from a housing shortage even with all of that new inventory.”

So, what's the bottom line for you?

Well, you might notice a bit more variety in options compared to the past few years, but don't get your hopes up for an abundance of choices.

To navigate through this evolving landscape of options, it's a great idea to partner up with a trusted local real estate agent. They'll give you the lowdown on the inventory situation in your desired area because, let's face it, real estate is all about location. With their expertise, they can share some savvy strategies they've used to assist other buyers like you in dealing with the ongoing housing supply challenges.

Here's the gist:

If you're considering buying a home, it's wise to team up with a local real estate agent. This ensures you stay in the loop about everything that could impact your move, including the current number of homes available for sale.

So, on that note, are you looking to find your next dream home in the Lake Houston area? Let's make it happen together! As your local Texas REALTOR®, I've got the expertise to guide you through every step of the home buying journey. From navigating the market to finding the perfect home that suits your needs, I'm here to help. Get in touch with me today, and let's turn your dream home into a reality!