Leta Buy a Home! Now May Be the Time.

Dated: August 16 2022

Views: 7

Want To Buy a Home? Now May Be the Time.

Want To Buy a Home? Now May Be the Time. | MyKCM

There are more homes for sale today than at any time last year. So, if you tried to buy a home last year and were outbid or out priced, now may be your opportunity. The number of homes for sale in the U.S. has been growing over the past four months as rising mortgage rates help slow the frenzy the housing market saw during the pandemic.

Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), explains why the shifting market creates a window of opportunity for you:

“This is an opportunity for people with a secure job to jump into the market, when other people are a little hesitant because of a possible recession. . . They’ll have fewer buyers to compete with.”

Two Reasons There Are More Homes for Sale

The first reason the market is seeing more homes available for sale is the number of sales happening each month has decreased. This slowdown has been caused by rising mortgage rates and rising home prices, leading many to postpone or put off buying. The graph below uses data from realtor.com to show how active real estate listings have risen over the past four months as a result.

Want To Buy a Home? Now May Be the Time. | MyKCM

The second reason the market is seeing more homes available for sale is because the number of people selling their homes is also rising. The graph below outlines new monthly listings coming onto the market compared to last year. As the graph shows, for the past three months, more people have put their homes on the market than the previous year.

Want To Buy a Home? Now May Be the Time. | MyKCM

Bottom Line

The number of homes for sale across the country is growing, and that means more options for those thinking about buying a home. This is the opportunity many have been waiting for who were outbid or out priced last year.

Blog author image

Tony and Elsa Fuentes

A home is not a home because of its room dimensions or the color of the walls. It is about how you feel when you walk through the front door. And the way you can instantly envision your life unfolding....

Latest Blog Posts

The Strength of Homeowners

The True Strength of Homeowners TodayThe real estate market is on just about everyone’s mind these days. That’s because the unsustainable market of the past two years is behind us, and

Read More

What is a Forbearance? For COVID-19 - The Fuentes Team.

https://www.thefuentesteam.com/ | The Fuentes Team | Central Florida Real Estate Experts Tony Fuentes has a quick Interview with John Broskie of Waterstone Mortgage about what a Forbearance is and

Read More

Is My House Selling in Today’s Market?

Will My House Still Sell in Today’s Market?If recent headlines about the housing market cooling and buyer demand moderating have you worried you’ve missed your chance to sell, here

Read More