There’s no denying that the market has been difficult for buyers. While there are plenty of potential buyers out there ready and willing to purchase a home, there simply hasn’t been enough inventory to keep up with demand.
But it looks like that’s finally starting to change.
According to data from the National Association of REALTORS® (NAR), 1.32 million homes were available for sale in July 2021—a 7.3 percent increase over June’s available inventory.
The Takeaway:
So, what does that mean for you? With more inventory hitting the market, more buyers are successfully finding and purchasing homes (according to NAR’s data, existing home sales were up 2 percent from June to July—and up 1.5 percent from July 2020). So, if you’ve been thinking about buying a home, now is a great time to make a move.