You’ve been waiting for something to change before you buy. It just might not be the thing you expected…While everyone’s paying attention to mortgage rates, only the savviest
Are_there More Homes for Sale Where You Live?
Dated: August 13 2024
Views: 426
One of the biggest bright spots in today’s housing market is how much the supply of homes for sale has grown since the beginning of this year.
Recent data from Realtor.com shows that nationally, there are 36.6% more homes actively for sale now compared to the same time last year. That’s a significant improvement. It gives you far more options for your move than you would’ve had just a year ago. And with supply improving, you’re also regaining a bit of negotiation power. So, if you’re someone who thought about buying a home over the last few years but was discouraged by how limited inventory was, this should be welcome news.
As Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), says:
“Increased housing supply spells good news for consumers who want to see more properties before making purchasing decisions.”
But just so you have perspective, even though inventory has grown, that doesn’t mean we’ve suddenly flipped to an oversupply of homes on the market. There are nowhere near enough homes for sale to make prices crash. If you compare today’s inventory levels to more normal, pre-pandemic numbers (2017–2019), there are still roughly 29% fewer homes actively for sale now (see graph below):
So, while we’re up by almost 37% year-over-year, we’re still not back to how much inventory there’d be in a normal market.
As Bill McBride, Housing Analyst for Calculated Risk, explains:
“ . . . currently inventory is increasing year-over-year but is still well below pre-pandemic levels.”
But that’s okay. It’s to be expected. As a country, it’ll take a while to get back to the typical level of homes for sale. And the good news for buyers is, in some select markets, it’s closer to being a reality.
Here’s a rundown of what today’s inventory growth looks like by region (see graph below):
Real estate will always be hyper-local. If you want to find out what inventory numbers look like where you live, reach out to a local agent. They’ll be able to tell you what they’re seeing and how it stacks up to the national market. You may find you have even more opportunity to move where you are.
Bottom Line
The supply of homes across the country is improving in a big way. As a buyer, that gives you more options for your home search, and ultimately, a better chance of finding what you like.
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About George & Maribel MedinaGeorge and Maribel Medina bring over 30 years of combined experience in the real estate industry, consistently delivering results with integrity, professionalism, and ....
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Midwest Real Estate Data (MRED) All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of the Multiple Listing Service. Real estate listings held by brokerage firms other than GMS GROUP may be marked with the Internet Data Exchange logo and detailed information about those properties will include the name of the listing broker(s) when required by the MLS. Copyright ©2026 All rights reserved.Based on information submitted to the MLS GRID as of September 12, 2026 8:30 PM UTC All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice.
Data is updated as of September 12, 2026 8:30 PM UTC
