Why Now Might Be the Perfect Time to Revisit Your Home Search
If you’ve stepped away from your home search over the past few years, you’re not alone and the good news is, your opportunity may have just returned. The housing market is shifting in ways that give buyers something they haven’t had in quite some time: choices. With more homes for sale, prices stabilizing, and mortgage rates starting to come down, now could be a great time to take another look. Industry experts say today’s buyers are in a much stronger position than they’ve been in recent years. Here’s why that’s the case.
Affordability
Affordability is showing signs of real improvement. Lisa Sturtevant, Chief Economist at Bright MLS, recently noted that “slower price growth coupled with a slight drop in mortgage rates will improve affordability and create a window for some buyers to get into the market.” After months of higher rates and fast-rising prices, a bit of relief is finally arriving. As mortgage rates ease and home price growth moderates, buyers are finding a little more breathing room in their budgets.
Inventory
At the same time, there are more homes available to choose from. According to Realtor.com, the number of listings is up 17% compared to this time last year. That means less competition from other buyers, a greater selection of properties, and more chances to find a home that truly fits your lifestyle. Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), explained it this way: “Homebuyers are in the best position in more than five years to find the right home and negotiate for a better price. Current inventory is at its highest since May 2020, during the COVID lockdown.”
Across the country, housing supply is rising in every region. Whether you’re searching for your first home, hoping for a bigger yard, or ready to downsize, more options are appearing. When comparing current inventory to the years before the pandemic (2017–2019), the South and West have seen the largest recovery, even exceeding typical levels. The Northeast and Midwest are still playing catch-up, but even there, buyers are benefiting from more listings than they’ve seen in quite some time.
This is good news for anyone considering a move. With more homes available and fewer buyers competing, sellers are becoming more open to negotiations. That gives today’s buyers a bit more leverage which is something that’s been hard to find in recent years.
Still, every local market is unique so working with a knowledgeable real estate professional such as myself can help you understand what’s happening in your specific area. Local trends often look very different from national headlines, and an experienced agent can help you spot opportunities before they pass you by.
If you paused your search because the process felt too competitive, too expensive, or too uncertain, this might be the right time to step back in. And if you’re not quite ready to buy yet, you can start planning ahead by reviewing your budget, exploring your financing options, and staying informed about what’s available in your price range. Reach out today and let’s have a conversation about your goals.
