Summer is here and with it come indications that the housing market is finally on the rise. According to housing industry experts, last week saw an increase of 8,886 listings in the active inventory. Such a dramatic uptick in housing inventory means several things for both real estate professionals and prospective homebuyers.
Firstly, with more homes on the market, buyers will have more selection to choose from when indicated their needs. This is especially beneficial for those looking for a home in a specific area that has had limited availability. Additionally, the market is in a period of time where prices are moderating, meaning the new inventory can be purchased at a slightly more affordable price than it would have been in the past.
Real estate professionals can benefit as well, as the influx of new inventory has offered them more opportunities to showcase the homes they represent. Additionally, with more selection available, they will be able to showcase a variety of homes in a variety of price points, which can benefit buyers and drive an influx of more buyers into the market.
Most importantly, this is a a great sign for the housing market overall, which points to certain signs of growth and stability.
Bullet Point Summary
• Active inventory grew 8,886 last week, creating more selection for buyers
• Prices are expected to be more moderate, due to new inventory
• Real estate professionals have more opportunities to showcase homes
• Overall indications of growth and stability for the housing market
You can read this full article at: https://www.housingwire.com/articles/housing-market-tracker-inventory-gets-summer-lift/(subscription required)
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