The Number of Fresh Listings Is Almost 2x Higher Than a Few Months Ago
Data from Realtor.com shows there are nearly 2x as many new listings hitting the market today as there were just 3 months ago. Those are homes the seller just put up for sale (see graph below):
That’s a significant rise. And while we usually see an uptick as we head into the busiest time of the year, this increase was bigger than normal. Jake Krimmel, Senior Economist at Realtor.com, explains:
“New listings jumped 21.2% from February to 439,000, a larger-than-typical seasonal surge . . . March typically sees the biggest month-over-month jump in new listings of the entire buying season, averaging an 18% increase since 2017; this year it exceeded 20%.”
That means more sellers are jumping back into the market, and that’s giving buyers more fresh options to choose from. So, if you’d felt like you’d seen everything out there and still nothing was quite right, this may be your moment.
With that many “just listed” homes, one of them could be exactly what you’ve been searching for.
Where You Have More Options
And this trend is happening across most of the country, so you should have more options pretty much whereever you are.
Earlier this year, the Northeast had fewer new listings because winter storms delayed sellers from putting their homes on the market. But now, that region is catching up fast.
In March, new listings jumped across nearly every state, especially in the Northeast, helping drive a strong national rebound.
What Rising Inventory Means for You
Right now, there are almost a million homes for sale nationwide. That’s up over 8% compared to last year.
With that many homes on the market, there’s a much better chance something will fit what you’re looking for, especially with so many fresh options being added right now. As Odeta Kushi, Deputy Chief Economist at First American, explains:
“One of the most encouraging signals heading into the spring home-buying season is the improvement in for-sale inventory levels compared with last year. . . More homes on the market give buyers greater choice and, combined with improved buying power, expand the range of homes they can realistically consider.”
In other words, your search may feel very different this year.
Bottom Line
More fresh listings are hitting the market right now, and that’s creating real opportunity.
If you put your search on hold last year, this Spring may be the time to jump back in. Let’s take a look at what just hit the market and see what could work for you.
