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.
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.