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If you've been considering purchasing a home, your main concerns are probably mortgage rates and home prices. This might even be the reason you've suddenly delayed your plans. Some buyers discovered that the numbers simply didn't make sense for their budget when rates increased last year. However, there might be some good news for you!
Economic Data Manager at Realtor.com, Sabrina Speianu, says "The spring housing market could shape up to provide home shoppers with a more plentiful supply of less expensive homes than last year," and although inventory is still not as plentiful as in the pre-pandemic days, "home shoppers will have more choice, and in particular more choice of lower-priced homes."
The number of homes actively for sale in February was up 14.8% from February of 2023, and more inventory means more choices for buyers!
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