Why There are More Homes for Sale Right Now (and What It Means for You)
Mortgage rates being back above 7% isn't exactly the news most people wanted. But it’s changing the market in ways that matter whether you’re buying or selling. The number of homes for sale is growing faster than it was this time last year. And interestingly, the main reason isn’t a flood of new listings. It’s because homes aren’t selling as quickly. Here’s why – and what that means if you’re thinking about buying or selling. Inventory Growth Is Picking Up Steam According to HousingWire Data , after inventory growth slowed down for most of the past year, it’s accelerated again in recent weeks. You can see that in the graph below. Just look at the blue line: And what's behind this shift might surprise you. When rates rise , some buyers hit pause. That means fewer homes sell each week. And as those unsold homes stay on the market alongside new listings, the number available starts to grow ( see the blue line in the graph below ). Here’s another way to look at it to make it even...
