Inventory Shows Improvement Over Holidays

The number of homes for sale typically falls during the holiday season. After all, potential sellers generally prefer to put their move on hold until after the new year, if they have the option. Because of this, the inventory of available homes typically decreases somewhere between 7 and 13 percent in December from November. Last year was no different. But while inventory declined, it only fell 5.5 percent, according to new numbers from the National Association of Realtors’ consumer website. Combined with the fact that newly listed homes were up 9.1 percent over year-before levels, the data may be a sign that inventory levels will rebound this year, which would be a positive turn for home buyers. Danielle Hale, chief economist for the website, says the improvement is encouraging but modest. “We are optimistic that inventory levels are moving in a positive direction, but the number of homes on the market is still low relative to pre-pandemic levels.” Hale said. “Some sellers are clearly motivated already, but other households may hold out for lower rates before selling or moving to new homes.” (source)

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