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Want To Buy a Home? Now May Be the Time.

Wednesday, July 27, 2022   /   by Jeff Green | Ricardo Jimenez Realtors®

Want To Buy a Home? Now May Be the Time.


Want To Buy a Home? Now May Be the Time. | MyKCM



There are more homes for sale today than at any time last year. So, if you tried to buy a home last year and were outbid or out priced, now may be your opportunity. The number of homes for sale in the U.S. has been growing over the past four months as rising mortgage rates help slow the frenzy the housing market saw during the pandemic.


Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), explains why the shifting 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 available for sale is the number of sales happening each month has decreased. This slowdown has been caused by rising mortgage rates and rising home prices, leading many to postpone or put off buying. The graph below uses data from realtor.com to show how active real estate listings have risen over the past four months as a result.


Want To Buy a Home? Now May Be the Time. | MyKCM


The second reason the market is seeing more homes available for sale is because the number of people selling their homes is also rising. The graph below outlines new monthly listings coming onto the market compared to last year. As the graph shows, for the past three months, more people have put their homes on the market than the previous year.


Want To Buy a Home? Now May Be the Time. | MyKCM


Bottom Line


The number of homes for sale across the country is growing, and that means more options for those thinking about buying a home. This is the opportunity many have been waiting for who were outbid or out priced last year.


The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. Allison James Estates & Homes does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. Allison James Estates & Homes will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.

Allison James Estates And Homes
931 10th Street, Suite M
Modesto, CA 95354
209-202-3610
DRE# 01519105
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metrolist logo.png The real estate listing data marked with this icon comes from the IDX program of the Sacramento Metrolist Multiple Listing Serviceā„¢ system. Information deemed reliable, but not verified or guaranteed. Users are responsible for checking the accuracy, completeness, currency, and status of all information. All measurements and all calculations of area (i.e., Sq Ft and Acreage) are approximate. Broker has represented to MetroList that Broker has a valid listing signed by seller authorizing placement in the MLS. Above information is provided by Seller and/or other sources and has not been verified by Broker. Some properties that appear for sale on this web site may subsequently have been sold and may no longer be available. Copyright 2022 MetroList Services, Inc. Terms of Use


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