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You are here: Home / Blog / Market Trends

Why you may want to start your home search now

August 25, 2022

Why you may want to start your home search now

If you’re thinking about buying a home, you likely have a lot of factors on your mind. You’re weighing your own needs against higher mortgage rates, today’s home prices, and more to try to decide if you want to jump into the market. While some buyers may wait things out, there’s a reason serious buyers are making moves right now, and that’s the growing number of homes for sale.

So far this year, housing inventory has been increasing and that’s making the prospect of finding your dream home less difficult. While there are always reasons you could delay making a big decision, there are also always reasons to consider moving forward. And having a growing number of options for your home search may be exactly what you needed to feel more confident in making a move.

What’s causing housing inventory to grow?

As new data comes out, we’re getting an updated picture of why housing supply is increasing so much this year.

“We are seeing a significant change in inventory, but no pickup in new listings,” according to Bill McBride, author of Calculated Risk. “Most of the increase in inventory so far has been due to softer demand – likely because of higher mortgage rates.”

Basically, the inventory growth is primarily from homes staying on the market a bit longer (known as active listings). And that’s happening because higher mortgage rates and home prices have helped moderate the peak frenzy of buyer demand.

The graph below uses data from Realtor.com to show how much active listings have risen over the past five months as a result (shown in green):

Inventory is increasing

Why this growth is good news for you

Regardless of the source, the increase in available housing supply is good for buyers. More housing supply actively for sale means you have more options as your search for your next home. A recent article from Realtor.com explains just how significant the inventory growth has been and why it’s good news for your plans to buy:

“Nationally, the inventory of homes actively for sale on a typical day in July increased by 30.7% over the past year, the largest increase in inventory in the data history and higher than last month’s growth rate of 18.7% which was itself record-breaking. This amounted to 176,000 more homes actively for sale on a typical day in July compared to the previous year and more choice for buyers who are still looking for a new home.”

The growth this year is certainly good news for you, especially if you’ve had trouble finding a home that meets your needs. If you start your search today, those additional options should make it less difficult to find a home than it would have been over the past two years.

Bottom Line

If you’re ready to jump into the market and take advantage of the increasing supply of homes for sale, let’s connect today. The opportunity is knocking, will you answer?

Filed Under: Market Trends Tagged With: Inventory

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"Russ helped us make our retirement dream a reality. We met Russ in July of 2018 when we made our first house hunting trip to Green Valley, AZ. He listened carefully to what we were looking for in a home and presented us with a list of houses that met our criteria. He helped us through two failed sales on our ou-of-state home, and when our home sold after five months on the market Russ was ready to help us with our home purchase in AZ. He stayed on top of all the important dates, provided us with a wealth of information about the area and links to all the required utilities. Moving is very stressful but Russ took a lot of the stress away with his commitment to quality customer service."
- C. G., Green Valley 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
"Russ Fortuno is an exceptional real estate professional. He is personable, responsive and really knows the Green Valley real estate market. Additionally, Russ is a strong buyer’s advocate, good listener and business professional. He gave his honest opinion on places and did not push in any way. Living in Northern California, we required an agent who has a spectrum of knowledge about Green Valley as well as being able to navigate a transaction via long distance. Trust is key in all real estate business but really was crucial with our purchase. Russ showed us many properties prior to COVID, we ended up putting an offer on a property that we didn’t see until the inspection was completed. Having trust in Russ made our long distance home purchase possible. It was a little scary doing business this way but I can say that we are very happy with our condominium and Russ made such a purchase smooth and a relatively easy process. I whole heartedly recommend Russ to anyone seeking real estate in the Green Valley area, we will use Russ for all our future Green Valley real estate business."
- S.M., Redding CA
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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
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