
Why Now is the Time to Revive Your Home Buying Plans
After a year of considerable upheaval, a notable 70% of buyers shelved their home search in 2024, and it's easy to understand why. Limited inventory and fluctuating mortgage rates created a challenging landscape, leaving many feeling overwhelmed. If you find yourself among the number who paused your moving plans, it's time to reconsider.
Increased Inventory: More Choices for You
One of the most promising shifts in the market is the recent increase in available homes. Inventory has risen by an impressive 27.5% compared to last year. This surge equates to more options for buyers, which is especially beneficial for those who hesitated to sell their current home because of uncertainty about where to move next.
Homes on the Market for Longer: A Welcome Change
The current dynamics mean homes are taking longer to sell, providing buyers much-needed breathing room when searching for their ideal next home. The average number of days houses stay on the market has increased by about 8%, offering a more manageable pace compared to previous years. This slight extension in time allows potential buyers to approach their decisions with more thoughtfulness.
What This Means for You
For homeowners contemplating whether to upgrade, downsize, or relocate, the advantages of the current market conditions present a significant opportunity. While there is still a supply constraint—homes are still approximately 23% below the pre-pandemic level—well-priced properties are selling as more buyers return to the market. This is indicative of a balanced approach, where sellers retain the potential for solid sales while buyers enjoy increased flexibility.
The Bottom Line: Make Your Move
With inventory growing and home purchases becoming less pressured, this is the moment to reignite those moving plans. The market may not yet be perfect, but favorable trends suggest a time ripe for reconsidering your options. Explore the possibilities and seize the opportunity to find your next home!
With this new context in the real estate market, don't hesitate to reach out to your local real estate agent and explore the options available to you. Now might just be the perfect time to kickstart your property search again.
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