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Want To Buy a Home? Now May Be the Time.

Thursday, July 28, 2022   /   by Mikayla Gorman

Want To Buy a Home? Now May Be the Time.


Want To Buy a Home? Now May Be the Time.




Want To Buy a Home? Now May Be the Time. | MyKCM



There are more homes for sale today than at any time last year. So, if you tried to buy a home last year and were outbid or out priced, now may be your opportunity. The number of homes for sale in the U.S. has been growing over the past four months as rising mortgage rates help slow the frenzy the housing market saw during the pandemic.


Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), explains why the shifting market creates a window of 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.”



Two Reasons There Are More Homes for Sale


The first reason the market is seeing more homes available for sale is the number of sales happening each month has decreased. This slowdown has been caused by rising mortgage rates and rising home prices, leading many to postpone or put off buying. The graph below uses data from realtor.com to show how active real estate listings have risen over the past four months as a result.


Want To Buy a Home? Now May Be the Time. | MyKCM


The second reason the market is seeing more homes available for sale is because the number of people selling their homes is also rising. The graph below outlines new monthly listings coming onto the market compared to last year. As the graph shows, for the past three months, more people have put their homes on the market than the previous year.


Want To Buy a Home? Now May Be the Time. | MyKCM


Bottom Line


The number of homes for sale across the country is growing, and that means more options for those thinking about buying a home. This is the opportunity many have been waiting for who were outbid or out priced last year.



  home prices, housing market, buyers, buying a home, first time home buyer

Jason Gorman Real Estate Team Keller Williams Premier Realty
Jason Gorman
635 Bielenberg Dr. Ste 100
Woodbury, MN 55125
651-735-7653

The data relating to real estate for sale on this web site comes in part from the Broker Keller Williams Premier Realty of the Regional Multiple Listing Service of Minnesota, Inc. Real estate listings held by brokerage firms other than Lakes Area Realty are marked with the Broker ReciprocitySM logo or the Broker ReciprocitySM thumbnail logo (a little black house) and detailed information about them includes the name of the listing brokers.” Listing broker has attempted to offer accurate data, but buyers are advised to confirm all items.” Copyright2022Regional Multiple Listing Service of Minnesota, Inc. All rights reserved. Data last updated August 12, 2022
The data relating to real estate for sale on this web site comes in part from the Broker ReciprocitySM Program of the Regional Multiple Listing Service of Minnesota, Inc. Real Estate listings held by brokerage firms other than Jason Gorman - Jason Gorman Real Estate Team / Keller Williams Premier Realty are marked with the Broker ReciprocitySM logo or the Broker Reciprocity and detailed information about them includes the name of the listing brokers. Listing broker has attempted to offer accurate data, but buyers are advised to confirm all items. Copyright2022Regional Multiple Listing Service of Minnesota, Inc. All rights reserved. Data last updated August 12, 2022
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