Is Inventory Getting Back To Normal?
After years of it feeling almost impossible to find a home you want to buy, things are changing for the better.
Nationally, inventory is growing, and that gives you more options for your move. But here’s what you need to know. That level of growth is going to vary based on where you live. And that’s why you need an agent’s local market expertise.
Here’s a quick rundown of the current inventory situation, so you know what’s happening and what to expect.
Significant Growth Across the Nation
Nationally, the number of homes for sale is rising – and that’s true in all regions of the country. That’s shown in this data from Realtor.com. In each of the four regions, inventory is up at least 19% compared to the same time last year. In the West, it’s actually up almost 41% year-over-year (see graph below):
There are two main reasons for this increase:
- More sellers are listing their homes. Many homeowners have been waiting for mortgage rates to drop before making a move. Now, some have decided they can’t wait any longer. May had more new listings than any May in the past three years.
- Homes are taking longer to sell. That means listings are staying on the market longer, which increases the total number of homes available. In May, the typical home took 51 days to sell – much closer to what’s more typical for the market.
More homes for sale helps the market become more balanced. For the past few years, sellers have had the upper hand. Now, things are shifting. Nationally, it’s not a full-on buyer’s market yet, but it’s heading toward a healthier place, especially for homebuyers. Danielle Hale, Chief Economist at Realtor.com, explains:
“The number of homes for sale is rising in many markets, giving shoppers more choices than they’ve had in years . . . the market is starting to rebalance.”
How Much Growth We’ve Seen Varies by Area
But, how long it’s going to take to achieve true balance is going to vary by area. Some parts of the country are seeing inventory bounce all the way back to normal levels, while others haven’t grown quite that much yet.
Let’s take a look at another graph. This time, we’ll compare the current data (what you already saw) to the last normal years in the housing market (2017-2019).
In this comparison, the green shows which regions are back at more typical levels for inventory based on the growth we’ve seen lately. The red shows where things have improved, but are still well below the norm (see graph below):
Here’s what that means for you. Across the board, you have more options now than you would’ve just one year ago. And that’s a really good thing. More choices means it should be a bit easier to find a home you love.
But not all markets are the same – some will take a bit longer to get back to more typical levels. So, lean on a local agent to find out what the inventory situation looks like where you want to live. They’ll be able to tell you how much growth they’ve seen locally and how to tailor your home search based on what’s available in that area. This is just one of the reasons a local agent’s perspective matters.
Inventory is getting better, but how long it takes to get back to normal is going to be different based on where you’re looking to buy. Let’s talk about what’s happening in our local market and how it affects your next move.
What’s one thing you’ve noticed lately that makes the market feel different than it did a year or two ago?
Is Inventory Getting Back To Normal?
If you’ve tried to find a home you want to buy over the last couple of years, chances are you’ve faced frustration, bidding wars, and slim pickings. It felt like the moment a decent house hit the market, it was snatched up in the blink of an eye. But now, something remarkable is stirring in the housing market—and it’s changing the game, especially for homebuyers.
A quiet but unmistakable market shift is underway. The number of homes for sale is finally on the rise, giving eager buyers more opportunities and options. But before you start dreaming of snagging your dream house with ease, let’s peel back the layers of this story and see what’s truly happening with the nation’s inventory levels.
A New Chapter in the Housing Market Story
For years, homebuyers have fought tooth and nail in a severe sellers market, where the demand for homes far outstripped the available housing supply. Sellers could name their price, set strict terms, and watch multiple offers flood in. But today, the tale is starting to change.
Thanks to regional inventory growth, more homeowners are deciding to list. They’ve grown weary of waiting for lower mortgage rates—rates that have stayed higher than many hoped. This decision to move forward has caused a ripple effect, increasing new listings across much of the country.
According to data from Realtor.com, all four U.S. regions have seen a surge in the number of homes for sale, with the West leading the charge at a staggering 41% increase year-over-year. And while this doesn’t mean there’s an overnight fix to the inventory squeeze, it does mean one thing: relief may finally be on the horizon.
The Role of Days on Market
One often overlooked factor in this evolving story is days on market—the number of days a home typically sits listed before going under contract. In May, this figure stretched to an average of 51 days, a noticeable shift toward more balanced market conditions. Longer days on market inflate the total number of homes available, giving buyers time to breathe, ponder, and weigh their options—a luxury rarely afforded in recent years.
This elongated selling window is slowly but surely shifting leverage away from sellers, moving us away from a sellers market and closer to something more equitable: a balanced market.
A Market Rebalance in Motion
But let’s pause. Before declaring victory, it’s essential to grasp that this market rebalance is not unfolding evenly everywhere. Some metros have made major strides back to normal inventory levels, while others remain stifled, still gasping for adequate housing supply.
The truth is simple: real estate is hyper-local. This is where agents local market expertise becomes priceless. What’s true in Phoenix may not apply in Pittsburgh. What’s trending in Austin may lag in Albany. The only way to fully understand what’s happening in our local market is to lean on a local agent—someone with their ear to the ground, reading the signals that national headlines can’t always reveal.
A local agent perspective will uncover whether your desired area is enjoying a resurgence of listings or still stuck in scarcity. These insights shape your home search, helping you time your move or adjust expectations wisely.
As Danielle Hale, Chief Economist at Realtor.com, aptly puts it:
“The number of homes for sale is rising in many markets, giving shoppers more choices than they’ve had in years… the market is starting to rebalance.”
Not All Growth Is Created Equal
While some areas are seeing an explosion of new listings, others remain tight. In fact, if you compare current inventory levels to the “normal” years of 2017-2019, you’ll see a fascinating patchwork. Some regions have roared back toward normal inventory levels; others are merely limping.
Here’s what this means: wherever you plan to find a home, the timing and availability of your dream property will depend heavily on local circumstances.
That’s why working with local agents—particularly seasoned ones with true local market expertise—is non-negotiable. Their insider knowledge allows you to tailor your home search based on the real-time pulse of the neighborhood or city you care about most.
The Blessing of More Homes for Sale
More homes for sale means more possibilities. More styles. More neighborhoods. More chances to finally find a home you want to buy without compromising.
This uptick in the number of homes available offers a silver lining, especially for homebuyers who previously felt squeezed by the tight housing supply. You’re no longer forced into rushed decisions or settling for less-than-ideal properties.
For those in markets like West Palm Beach, this brings even more interesting opportunities. As more listings flood the market, it’s the perfect time to consult a West Palm Beach mortgage broker or explore affordable West Palm Beach home loans. And if you’re planning to buy for the first time, the availability of first time home buyer loans in West Palm Beach makes the process even more approachable.
Interest Rates and Buyer Behavior
The rise in inventory isn’t solely due to sellers entering the market. Elevated mortgage rates have also slowed down buyer competition. High borrowing costs discourage some from leaping into homeownership immediately, which means listings linger longer on the market.
But every cloud has a silver lining. Less frantic demand, coupled with more available homes, signals a softening of the previous sellers market. Slowly but surely, a buyers market may emerge—or at least a market where both sides have equal footing.
Still, if you’re serious about buying, now is the time to get your financial ducks in a row. Consider meeting with local mortgage lenders in West Palm Beach to get prequalified. Use West Palm Beach mortgage calculators to estimate monthly payments or chat with a commercial mortgage broker in West Palm Beach if you’re eyeing investment properties.
Don’t forget the importance of mortgage preapproval in West Palm Beach—an essential tool for making strong offers when you finally spot the right home.
A Rebalancing Act Still in Progress
We’re not there yet. Not by a long shot. But the gears of change are grinding steadily. The once-insurmountable gap between the number of homes for sale and the hordes of eager buyers is narrowing.
The result? A marketplace tilting gently back toward normalcy, even if that normal feels distant and elusive.
For buyers, this means possibilities never seen during the pandemic frenzy. It’s an exciting era to watch unfold.
For sellers, however, it requires adjusting expectations. Listing at sky-high prices and expecting bidding wars may not cut it anymore. The rise in listings means more competition, and standing out requires strategy—and maybe even a price cut.
For agents, this shift reinforces the value of local market expertise. National trends are useful, but what’s happening on your block, in your neighborhood—that’s the information that matters most.
How West Palm Beach Is Riding the Wave
In places like West Palm Beach, these national trends are playing out in fascinating ways.
More sellers are unlocking their properties, adding to the pool of homes for sale. Whether you’re seeking a condo near the water or a family home inland, the diversity of choices is expanding. To capitalize on this moment, potential buyers should explore West Palm Beach refinancing options or seek property loan advice in West Palm Beach to better understand their borrowing power.
For sellers here, the window remains open—but not forever. The flood of new listings is raising the bar. Presentation, pricing, and patience are becoming more critical. Buyers know they have options for buyers, and they’ll wait for the right home at the right price.
The Importance of Agent Expertise
The true north in this swirling storm of data and trends? Your trusted real estate agent.
A savvy local agent perspective is invaluable. They’ll spot whether your market is approaching balanced market conditions or still favoring sellers. They can guide whether now is the moment to leap—or hold.
Agents armed with local market expertise will reveal whether your target area is experiencing a genuine market rebalance or a temporary lull. They can interpret shifts in days on market, monitor the influx of new listings, and help navigate price adjustments from overly ambitious sellers.
In a landscape that’s slowly evolving from frenzy to stability, these insights are pure gold.
What’s Next for Inventory?
So, the million-dollar question: Will inventory fully return to “normal”?
It’s complicated.
While the recent regional inventory growth is promising, full recovery to normal inventory levels could take months—maybe even years—in some markets. Economic conditions, demographic trends, and consumer confidence all play crucial roles.
But for now, the fact that the number of homes available is climbing is excellent news for everyone—not just in the nation at large but also in places like West Palm Beach, where buyers and sellers can make confident, informed decisions.
And for those hunting the best mortgage rates in West Palm Beach, or seeking affordable West Palm Beach home loans, the expanding housing supply means greater negotiating power—and maybe even price reductions from eager sellers trying to stand out.
Bottom Line
The long drought of tight housing supply is easing. Inventory is growing. A market rebalance is underway. But this transformation isn’t happening uniformly or instantly.
Some areas are swiftly approaching normal inventory levels, while others lag behind. That’s why agents local market expertise and the guidance of a trustworthy real estate agent are more essential than ever.
If you want to find a home you want to buy, enjoy more options for buyers, or pursue the best mortgage rates in West Palm Beach, the moment to prepare is now. Consult local mortgage lenders in West Palm Beach, explore West Palm Beach mortgage calculators, and secure your mortgage preapproval in West Palm Beach—so when the right house appears, you’re ready.
The housing market is shifting. Whether you’re buying, selling, or simply watching, the changes are impossible to ignore. For the first time in years, buyers can breathe a little easier, dream a little bigger, and maybe—just maybe—find a home that feels just right.
And that’s a beautiful thing.
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