It isn't always easy to find what you're looking for when shopping for a house. That's especially true when there are fewer homes for sale. Low inventory leads to competition, quick sales, bidding wars, and frustration. On the other hand, when there are more options to choose from, there are more opportunities to find a house that checks off the items on your wishlist. Which is why a recent end-of-the-year forecast has encouraging news for prospective home shoppers.
The forecast, from the National Association of Realtors' consumer website, says the number of existing homes for sale will rise more than 20 percent year-over-year in 2023. That means more homes for buyers to choose from and more chances to find one that fits their needs.
Danielle Hale, the website's chief economist, says market challenges will remain, though, so buyers will have to be prepared. “Americans who are determined to make a move will find staying up-to-date on the market, flexibility, creativity, and a healthy does of patience will go a long way toward success in the year ahead,” Hale said.
[Source]
