Early Inventory Gains Benefit Move-Up Buyers

Early Inventory Gains Benefit Move-Up Buyers

The housing market is in transition. Conditions are changing quickly and that can be scary for prospective home buyers. But while the market is definitely changing, not all change has to be scary.

For example, a new report from the National Association of Realtors’ consumer website found the inventory of homes for sale has changed for the better. The number of homes for sale improved in June, with available listings climbing at their fastest pace ever. In fact, active inventory was up 18.7 percent year-over-year.

That’s great news for home buyers, as it means more homes to choose from and less competition between buyers. Danielle Hale, the website’s chief economist, says the gains have been particularly good for move-up buyers.

“A deeper dive into June’s inventory gains by square footage reveals potential opportunities for move-up buyers, as newly listed homes skewed larger,” Hale said. “In other words, the first wave of supply improvements may be particularly opportune for summer sellers looking to upgrade from their starter homes.” (source)

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