Housing Availability: Are There More Homes On The Market Now Than This Past Spring?

There’s a lot of talk lately about how challenging it can be to find a home to buy in this current market. While housing inventory is still low, there are a few important things to understand about the amount of homes for sale on the market as we move into the end of the year.

In the residential real estate market, trends generally follow a predictable and seasonal pattern. Typically, the number of homes available for sale peaks in the fall. But in a chapter where so little feels normal, the question becomes: should we expect a fall peak this year?

If we look at the active monthly listings for 2021 (shown in the chart below), we’ll see that the number of homes on the market has increased fairly steadily since spring this year. Data received from realtor.com shows that we’re still seeing an increase in active inventory each month moving forward. While that gain is a bit smaller month-to-month, September housing numbers are still up from the month prior.

The important takeaway here is the latest monthly numbers show growth. At the end of September, buyers had more options to pick from than they did this spring. That’s encouraging for buyers who may have paused their search months ago because they had trouble finding a home. Danielle Hale, Chief Economist at realtor.com, sums this up nicely:

“Put simply, this September buyers had more optionsthan they’ve had all year and while that’s typical of early fall, that’s not what happened in 2020. Still, it’s important to remember that while buyers may have an easier time this fall than they did in the spring, the market remains more competitive than it has been historically at this time of year.”

Whether you’re buying or selling, there’s still a chance to make your goals a reality this season. Partner with a real estate professional who knows the local market and current trends and can help you understand what they mean for you.