$\"More$ \n

There are more homes on the market right now than there have been in years \u2013 and that could be a game changer for you if you\u2019re ready to buy. Let\u2019s look at two reasons why.<\/p>\n

You Have More Options To Choose From<\/strong><\/h4>\n
An article<\/a> from Realtor.com <\/em>helps explain just how much the number of homes for sale has gone up this year:<\/p>\n
\u201cThere were <\/em>29.2% more homes actively for sale on a typical day in October compared with the same time in 2023<\/em><\/strong>, marking the twelfth consecutive month of annual inventory growth and <\/em>the highest count since December 2019<\/em><\/strong>.\u201d<\/em><\/p><\/blockquote>\n
And while the number of homes on the market still isn\u2019t quite back to where it was in the years leading up to the pandemic, this is definitely an improvement<\/a> (see graph below<\/em>):<\/p>\n
$\"a$ <\/a>With more homes available for sale now, you have more options to choose from. As Hannah Jones, Senior Economic Research Analyst at Realtor.com<\/em>, explains<\/a>:<\/p>\n
\u201cThough still lower than pre-pandemic, <\/em>burgeoning home supply means buyers have more options . . .<\/em><\/strong>\u201d<\/em><\/p><\/blockquote>\n
That means you have a better chance of finding a house that meets your needs. It also means the buying process<\/a> doesn\u2019t have to feel quite as rushed, because more options on the market means you\u2019ll likely face less competition from other buyers.<\/p>\n
Home Price Growth Is Slowing<\/strong><\/h4>\n
When there aren\u2019t many homes for sale, buyers have to compete more fiercely for the ones that are available. That\u2019s what happened a few years ago, and it\u2019s what drove prices up so quickly.<\/p>\n
But now, the increasing number of homes on the market is causing home price growth to slow down<\/a> (see graph below<\/em>):<\/p>\n
$\"a$ <\/a>In certain markets, the number of available homes has not only bounced back to normal, but has even surpassed pre-pandemic levels. In those areas, home price growth has slowed or stalled completely. As Lance Lambert, Co-Founder of ResiClub<\/em>, explains<\/a>:<\/p>\n
\u201cGenerally speaking, housing markets where active inventory has returned to pre-pandemic 2019 levels have seen home price growth soften or even decline outright from their 2022 peak.\u201d<\/em><\/p><\/blockquote>\n
Slower or stalled price growth could give you a better chance of finding something<\/a> within your budget. As Dr. Anju Vajja, Deputy Director at the Federal Housing Finance Agency<\/em> (FHFA), says<\/a>:<\/p>\n
\u201cFor the third consecutive month U.S. house prices showed little movement . . . <\/em>relatively flat house prices may improve housing affordability.<\/em><\/strong>\u201d<\/em><\/p><\/blockquote>\n
But remember, inventory levels and home prices are going to vary by market.<\/strong><\/p>\n
So, having a real estate agent who knows the local area can be a big advantage. They can help you understand the trends in your community, which can make a real difference in finding a home that fits your needs and budget.<\/p>\n
Bottom Line<\/h3>\nMore housing options<\/a> \u2013 and the slower home price growth they bring \u2013 can help you find and buy a home that works for your lifestyle and budget. So don\u2019t hesitate to reach out to a local real estate agent<\/a> if you want to talk about the growing number of choices you have right now.<\/p>\n<\/div>\n\n<\/body>","protected":false},"excerpt":{"rendered":"
There are more homes on the market right now than there have been in years \u2013 and that could be a game changer for you if you\u2019re ready to buy. Let\u2019s look at two reasons why. You Have More Options To Choose From An article from Realtor.com helps explain just how much the number of […]<\/p>\n","protected":false},"author":1,"featured_media":5193,"comment_status":"registered_only","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[12],"tags":[29,27,20,18,28],"class_list":["post-5192","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-real-estate-insight","tag-idaho-real-estate","tag-north-idaho-homes","tag-rain-silverhawk","tag-real-estate","tag-sandpoint-idaho"],"aioseo_notices":[],"acf":[],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/sandpointrealtyidaho.com\/blog\/wp-content\/uploads\/2024\/11\/20241113-More-Homes-Slower-Price-Growth-What-It-Means-for-You-as-a-Buyer-original.png?fit=750%2C410&ssl=1","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/pdz2Zu-1lK","_links":{"self":[{"href":"https:\/\/sandpointrealtyidaho.com\/blog\/wp-json\/wp\/v2\/posts\/5192","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sandpointrealtyidaho.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sandpointrealtyidaho.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sandpointrealtyidaho.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/sandpointrealtyidaho.com\/blog\/wp-json\/wp\/v2\/comments?post=5192"}],"version-history":[{"count":0,"href":"https:\/\/sandpointrealtyidaho.com\/blog\/wp-json\/wp\/v2\/posts\/5192\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/sandpointrealtyidaho.com\/blog\/wp-json\/wp\/v2\/media\/5193"}],"wp:attachment":[{"href":"https:\/\/sandpointrealtyidaho.com\/blog\/wp-json\/wp\/v2\/media?parent=5192"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sandpointrealtyidaho.com\/blog\/wp-json\/wp\/v2\/categories?post=5192"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sandpointrealtyidaho.com\/blog\/wp-json\/wp\/v2\/tags?post=5192"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}