Now may be the time to buy your home, especially if you were out priced or outbid last year when you tried to buy a home. Why is now the time to buy? There are more homes for sale today than any time last year. With the rising mortgage rates, the number of homes for sale in the United States has been growing over the past few months. People may be afraid to jump into the real estate market right now because they are afraid of a recession. Lawrence Yun, Chief Economist at the National Association of Realtors explains why the market creates the perfect 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.”

The reason people have been put off buying is due to the rise in mortgage rates and rising home prices. This is why there are more homes on the market right now, which creates the perfect opportunity for you to make an offer.

The graph below shows how active the real estate listings have risen over the past four months

The number of people selling their homes is also dramatically rising, which is why we see more homes available on the market. The graph below shows new homes that are coming onto the market compared to last year. Each year, more people have put their homes on the market. June was the highest month 

So what does all this mean for you? The opportunity awaits you to buy a home today with the number of homes on the market growing. The more homes on the market means the more options you have for buying a home. Call me to get started (310) 519-7670.