Curious why this spring could be the perfect time to buy a home? Here are two key reasons:
First, there’s more inventory available, and sellers may be more open to negotiating. That means you’ll have more choices and stronger bargaining power than buyers have had in years.
Let’s break it down:
1. More Homes on the Market
This February saw the highest number of homes for sale in the past five years – fantastic news for your home search! According to the latest data from Realtor.com, housing inventory has increased by 27.5% compared to last year.
Having more choices in your home search is a big win – and the good news doesn’t stop there. Experts predict that inventory will continue to grow this year, making it even easier to find a home that meets your needs.
But that’s not the only advantage. Danielle Hale, Chief Economist at Realtor.com, highlights some additional benefits of increased inventory:
“Buyers will not only have more home options . . . but they are also likely to find somewhat lower asking prices and more time to make decisions – all buyer-friendly factors as we inch closer to the busy homebuying season.”
2. You May Find Sellers Are Doing Price Cuts
With more options available, some homes are now spending a bit more time on the market – particularly those that were initially priced too high. As a result, more sellers are adjusting their prices to attract buyers.
In fact, data from Realtor.com shows that the number of listings with price reductions has increased compared to recent years (see graph below):
This trend shows that sellers are more willing to compromise right now. If you compare today’s market to more typical years like 2017–2019, you’ll notice the number of price reductions is now much closer to those levels – and for buyers, that’s a welcome change.
So, what does this mean for you? It could mean more opportunities to negotiate – whether it’s on the price, closing costs, or even repairs. While not every seller will make adjustments, more are open to it, giving you more leverage than buyers have had in quite some time.
Bottom Line
If you’ve been holding off on buying a home, this spring could be the opportunity you’ve been waiting for.
That said, every market is unique, and partnering with a local expert can help you navigate your options. If you’d like to discuss what’s happening in our area or are ready to kick off your home search, let’s connect!
