Conditions are better for buyers when there are more homes for sale. That’s why it’s good news that active listings are finally moving higher after years of being historically low. According to one recent analysis, the number of active listings available on a typical day in August was 26.6 percent higher than it was at the same time last year. That’s a little less than the previous month when active listings were 30.7 percent higher year-over-year. Still, the fact that listings continue to grow at a near-record pace is undoubtedly good for buyers. Danielle Hale, chief economist for the National Association of Realtors’ consumer website, says the market is finding better balance. “As we soak up the last days of summer, the housing market is beginning to find more balance between buyer-friendliness and still favorable selling conditions,” Hale said. “For many of today’s buyers, the uptick in for-sale home options is taking away the sense of urgency that they felt during the past two years, when inventory was scarce.” (source)
SOCIAL MEDIA EDIT: The number of active listings continues to grow at a near-record pace, with available homes for sale up 26.6 percent year-over-year in August.