After years of feeling like finding your dream home was nearly impossible, the housing market is finally shifting in a positive direction.

Across the United States, inventory is on the upswing, giving prospective buyers more choices than they’ve seen in quite some time. However, it’s important to know that this increase doesn’t look the same in every location. That’s where an experienced local agent becomes essential—they understand the nuances of your area’s market and can help guide your home search effectively.

Let’s take a closer look at what’s happening with inventory and what you can expect moving forward.

A Positive Trend in Inventory Growth Nationwide

Across the country, more homes are coming onto the market—and this is happening in every region. According to data from Realtor.com, inventory has risen significantly compared to this time last year. In fact, every region has experienced at least a 19% increase in active listings, with the West seeing an impressive 41% year-over-year jump (see graph here).

There are a couple of key reasons behind this encouraging shift:

• More homeowners are choosing to list their properties. While many had been holding out for lower mortgage rates, a growing number are deciding not to wait any longer. In fact, May saw more new listings than any other May in the past three years.

• Homes are spending more time on the market. With properties taking longer to sell, the total number of homes available is naturally increasing. In May, the average home sold in 51 days, a pace that’s more in line with a balanced market.

These developments are helping to create a more equitable housing environment. While sellers have enjoyed the upper hand in recent years, the market is now moving toward a healthier balance—good news for buyers. Danielle Hale, Chief Economist at Realtor.com, notes:

“The number of homes for sale is rising in many markets, giving shoppers more choices than they’ve had in years . . . the market is starting to rebalance.”

Understanding Regional Differences in Inventory Growth

While the national trend is encouraging, the extent of inventory growth still varies depending on location. Some areas are bouncing back to pre-pandemic levels, while others are still catching up.

Let’s examine another graph that compares current inventory levels with those from the more typical housing years of 2017-2019. In this visual, green areas represent regions that have returned to near-normal inventory levels, while red areas indicate places where improvement is happening but inventory remains below historical norms (see graph here).

So, what does this mean for you as a buyer? Simply put, you have more options now than you did a year ago—and that’s a great development. More choices can make it easier to find a home that checks all your boxes.

However, because each market is different, some areas may take a bit longer to fully recover. That’s why partnering with a local agent is so important. They’ll have the insights needed to help you understand the inventory landscape in your desired location and customize your home search accordingly.

Bottom Line

Housing inventory is improving, making it a more promising time for buyers to enter the market. But the speed and extent of this growth will vary depending on where you’re looking. For the most accurate and helpful guidance, be sure to connect with a trusted local real estate expert who can provide insights tailored to your area.

Have questions about what this means for your home search? Reach out to Mike Panza and the team at Panza Home Group for expert advice and local market knowledge. You can contact them directly here: https://panzarealestate.com/team/mike-panza