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You are here: Home / Blog / Market Trends

Want to buy a home? Now may be the time

July 27, 2022

Want to buy a home? Now may be the time

There are more homes for sale today than at any time last year. So, if you tried to buy a home last year and were outbid or out priced, now may be your opportunity. The number of homes for sale in the U.S. has been growing over the past four months as rising mortgage rates help slow the frenzy the housing market saw during the pandemic.

Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), explains why the shifting market creates a window of opportunity for you:

“This is an opportunity for people with a secure job to jump into the market, when other people are a little hesitant because of a possible recession. … They’ll have fewer buyers to compete with.”

Two reasons there are more homes for sale

The first reason the market is seeing more homes available for sale is the number of sales happening each month has decreased. This slowdown has been caused by rising mortgage rates and rising home prices, leading many to postpone or put off buying. The graph below uses data from Realtor.com to show how active real estate listings have risen over the past four months as a result.

Active Listings Increase

The second reason the market is seeing more homes available for sale is because the number of people selling their homes is also rising. The graph below outlines new monthly listings coming onto the market compared to last year. As the graph shows, for the past three months, more people have put their homes on the market than the previous year.

New listings exceed last year

Bottom Line

The number of homes for sale across the country is growing, and that means more options for those thinking about buying a home. This is the opportunity many have been waiting for who were outbid or out priced last year.

Filed Under: Market Trends Tagged With: Home Prices, Inventory, Supply & Demand

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"I left the area early in the selling process, Russ handled everything for me and kept me informed about what was happening. He answered all of my questions promptly and did all of the extras that needed to be done. I put my trust in him and he didn’t fail me. I do recommend him for handling the sale of your home, and for finding you one to buy."
- J.A., Sahuarita AZ
"Anytime, anywhere, he was there, always going the extra mile. He even came to the house and watered trees so they would not die — more then once. He’s what you call real professional, a 10.5 on a 10 scale. I was out of town when the house was listed so he went to the house and did a video. I didn’t see a dishwasher, he said “yes it was there.” That was good enough for me, but he went to house and took picture to show me. He kept me informed every step of the process, and followed-up to ask if I had any questions."
- G.M., Sandpoint ID
"My wife and I are now living in a home we saw in person for the first time a few days ago, in fact just an hour before we signed the closing documents. That’s the kind of trust we have in Russ Fortuno. As a buyer’s agent, you could not ask for more. He listened carefully to what my wife and I had in mind and then repeatedly, told us why we wouldn’t be happy with homes we were interested in… until we asked him to take a look at the home we eventually purchased. He went above and beyond what was expected and was always available to answer our questions throughout the process in a very timely manner. I’m not sure I’ve ever experienced service like we received from Russ. I would highly recommend Russ if you are buying a home, especially if you’re not local and you need someone you can count on to look out for your best interests."
- M.H., Green Valley AZ
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Russ Fortuno, Associate Broker

I'm a Southern Arizona native and year-round Green Valley resident. Whether you’re buying or selling a home in the Green Valley or Sahuarita area, you’ll experience unsurpassed service and professionalism at all stages of your real estate transaction. I welcome the opportunity to assist in your next home sale or purchase.
Meet Russ

Tierra Antigua Realty

18745 S. I-19 Frontage Rd., Ste. A105
Green Valley, AZ 85614
(520) 333-0446
Contact Russ

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