Buy a Home Now!

Buy a Home Now!

Today, there are more homes for sale than at any other time last year. So, if you tried to buy a home last year but were outbid or overpriced, now could be your chance. The number of homes for sale in the United States has increased over the last four months, as rising mortgage rates help to slow the housing market's frenzy during the pandemic.

The National Association of Realtors (NARChief )'s Economist, Lawrence Yun, explains why the changing market creates a window of opportunity for you:

“This is an opportunity for people with a secure job to jump into the market, when other people are a little hesitant because of a possible recession. . . They’ll have fewer buyers to compete with.”

Two Reasons There Are More Homes for Sale

The first reason the market is seeing more homes for sale is that the number of monthly sales has decreased. Rising mortgage rates and rising home prices have contributed to the slowdown, causing many people to postpone or put off buying.

The second reason there are more homes for sale on the market is that the number of people selling their homes is also increasing. The graph below compares the number of new monthly listings to the same period last year.

The number of homes for sale across the country is increasing, which means that those looking to buy a home have more options. Many people who were outbid or outpriced last year have been waiting for this opportunity.

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