The inventory of homes for sale has been lower than normal for years now. It's the primary reason for the home price spikes the housing market has seen since 2020. But according to one recent analysis from the National Association of Realtors' consumer website, home buyers may have more homes to choose from this spring. That's because the inventory of available homes for sale was up nearly 68 percent in February from where it was at the same time one year earlier.
Danielle Hale, chief economist for the site, says the news is good for buyers, but sellers may need to adjust their expectations. “The number of homes for sale on the market is up significantly from a year ago, even though fewer homeowners have listed their home for sale in recent months,” Hale said. “With a smaller pool of buyers today and more competition from other homes on the market, home sellers will likely need to adjust their price expectations in the market this spring.”
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