As September is the early fall season, this is the start of a good house-buying season. At the end of the year, after people have sorted out various issues in their life, they plan to move from the previous place to the next place. This provides the option for a better inventory of houses from the previous months of the year. After a long time of the housing market being on lockdown, this year many people are looking for houses to move to. And this is going to be an opportunity for new buyers who are looking for a property to purchase.
Inventory are steady for the last few months
The number of active listings is increasing from previous years. This is a sign that people are more interested in selling houses. Nationally, the available inventory list was around 646,053 for-sale homes. This is a pretty good number considering the previous few years were a totally dry spell in real estate. As US house inventory declined by 22% in the year 2020. After that, the recovery is a great opportunity to invest in a house.
Sellers have good shot but meet the local expectation
The housing market is in a position that can be called a seller market. This is good for the sellers, but they have to watch out for the local house buyers’ demand and ability to invest in a house. As the mortgage rate is too high, it would be harder for people to purchase houses.