When people talk about the housing market being hot, they’re generally talking about the competition for available homes. A “hot” market, in other words, is one where homes sell quickly and bidding wars are common. That’s where we are today. Hopeful home buyers have to be quick, decisive, and prepared if they want to buy a home in this market. But while there’s definitely an imbalance between supply and demand these days, there are signs that things may be improving. For example, according to one recent analysis, active listings – which refer to the number of homes listed for sale at any given time – have increased 5 percent since hitting their 2021 low in mid-March. Additionally, new listings are up 6 percent from last year. Together, it’s an encouraging sign that more home sellers are returning to the market. And while listings are still down 34 percent from 2020, the upward trend offers hope that homes for sale will continue to rebound and bring needed balance to markets suffering from record-low inventory. (source)
