Whether it’s at a family gathering, your company party, or catching up with friends over the holidays, the housing market always finds its way into the conversation.
Here are the top three questions on a lot of people’s minds this season, and straightforward answers to help you feel more confident about the market.
1. “Will I even be able to find a home if I want to move?”
Yes, more than you could a year or two ago.
The number of homes for sale has been rising over the past few years. According to data from Realtor.com, there have been more than one million homes on the market for six straight months, something that hasn’t happened since 2019 (see graph below):
That means two things:
Buyers have more options.
Sellers have more places they can move to next.
Many homeowners who held off are realizing the shelves aren’t bare anymore. So, if you hit pause on your home search last year because nothing fit your needs, it may be worth another look. With more homes on the market now, you’re not competing for the same handful of listings like you were a couple of years ago.
And because there’s a bit more to choose from, homes aren’t disappearing the minute they hit the market. That gives buyers more space to breathe, more options to compare, and a little more time to make a confident decision.
2. “Will I ever be able to afford a house?”
Affordability is starting to improve. Finally.
It’s been a tough few years for buyers. But this year brought some much-needed good news:
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