{"id":5409,"date":"2025-02-04T11:30:00","date_gmt":"2025-02-04T11:30:00","guid":{"rendered":"https:\/\/sandpointrealtyidaho.com\/blog\/2025\/02\/04\/buyer-bright-spot-there-are-more-homes-on-the-market\/"},"modified":"2025-02-04T11:30:00","modified_gmt":"2025-02-04T11:30:00","slug":"buyer-bright-spot-there-are-more-homes-on-the-market","status":"publish","type":"post","link":"https:\/\/sandpointrealtyidaho.com\/blog\/2025\/02\/04\/buyer-bright-spot-there-are-more-homes-on-the-market\/","title":{"rendered":"Buyer Bright Spot: There Are More Homes on the Market"},"content":{"rendered":"\n

$\"Buyer$ \n

The past few years have been challenging for homebuyers<\/a>, especially with higher home prices and mortgage rates. And if you\u2019re trying to buy a home, it\u2019s easy to worry you won\u2019t be able to find something in your budget.<\/p>\n

But here\u2019s what you need to know. The number of homes for sale has grown a whole lot lately and that\u2019s true for both existing (previously lived-in) and newly built homes. Here\u2019s a look at those two bright spots for buyers right now and why they may make it a bit easier to find the home you\u2019re been looking for.<\/p>\n

1. There Are 22% More Existing Homes for Sale <\/strong><\/h4>\nData<\/a> from Realtor.com<\/em> says the number of existing homes for sale improved by an impressive 22% in 2024. And experts say your pool of options is expected to get even better this year. Forecasts show<\/a> inventory is projected to grow another 11-15%<\/strong> by the end of this year (see graph below<\/em>):<\/p>\n
$\"a$ <\/a>Here\u2019s why this is so good for your search. If you haven\u2019t seen a house with all the features you need, just know that, as the number of homes for sale grows, you\u2019ll have more options to choose from. That means a better chance of finding a home that checks all your boxes. As Ralph McLaughlin, Senior Economist at Realtor.com,<\/em> says<\/a>:<\/p>\n
\u201c<\/em>It could be a particularly good time to get out into the market . . . you\u2019re going to have more choice.<\/em><\/strong> And that\u2019s not something that buyers have really had much over the past several years.\u201d<\/em><\/p><\/blockquote>\n
2. There Are More Newly Built Homes on the Market<\/strong><\/h4>\nAccording to data<\/a> from the Census<\/em> and the National Association of<\/em> Realtors<\/em> (NAR), 31.1%, or roughly 1 in 3, homes on the market right now are newly built homes. That\u2019s more than the norm (see charts below<\/em>). But don\u2019t worry, that\u2019s not because builders are overdoing it \u2013 it\u2019s just that they\u2019re trying to catch up after years of underbuilding.<\/p>\n
$\"a$ <\/a>And the best part is, since builders have been focusing on smaller homes<\/a> with lower price points, you may actually find out new builds are less expensive than you\u2019d expect. So, while a lot of people write off new construction because it\u2019s easy to assume the costs are way higher, lately, that price gap isn\u2019t as big as you\u2019d think. As CNET says<\/a>:<\/p>\n
\u201cIf you live in an area where there\u2019s a lot of new construction happening . . . <\/em>you might be able to purchase a new house for a price similar to or even less than a pre-owned one<\/em><\/strong>.\u201d<\/em><\/p><\/blockquote>\n
If you haven\u2019t been able to find a home that\u2019s in your budget, it\u2019s time to ask your agent about new builds. If you don\u2019t, you may have been cutting your pool of options by about a third.<\/p>\n
Bottom Line<\/h3>\n
More choices could be the key to unlocking your homebuying goals in 2025. Talk to a local agent if you want to see what\u2019s available in your area.<\/p>\n
What features are you looking for in your next home<\/strong>? Let an agent know so they can put together a list of homes you\u2019d love.<\/p>\n<\/div>\n\n<\/body>","protected":false},"excerpt":{"rendered":"
The past few years have been challenging for homebuyers, especially with higher home prices and mortgage rates. And if you\u2019re trying to buy a home, it\u2019s easy to worry you won\u2019t be able to find something in your budget. But here\u2019s what you need to know. The number of homes for sale has grown a […]<\/p>\n","protected":false},"author":1,"featured_media":5410,"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_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_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},"jetpack_post_was_ever_published":false},"categories":[12],"tags":[29,27,20,18,28],"class_list":["post-5409","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":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t