The housing market has had an inventory problem for years now. Too few homes for sale has driven prices higher, increased competition and bidding wars, and limited options for buyers. Fortunately, though, the market has finally begun to bounce back. In fact, according to new numbers from the National Association of Realtors' consumer website, inventory has now risen for 10 straight months and was up 35.8 percent in August, pushing the number of homes for sale to its highest level since May 2020.
Danielle Hale, the website's chief economist, says this fall could be good for buyers. “As the market slows seasonally, fall is one of the best times to buy a house,” Hale said. “Falling mortgage rates are likely to bring out additional home shoppers and a busier fall season than usual, but the boost in activity is unlikely to overwhelm the usual seasonal slowdown. Shoppers, who are out this fall, are likely to face lower competition than is expected in spring 2025 as more shoppers anticipate better mortgage rates.”
[Source: PR Newswire]
