Is the Number of Homes for Sale Increasing?

When planning to move, having the most current information about the housing market is crucial. Whether you’re a buyer or a seller, the quantity of homes on the market in your area is significant. Here’s a recent update on the availability of homes for sale that answers the question of whether or not the number of homes for sale is increasing.

Understanding the Current State of Housing Inventory

In recent years, the narrative has been about the scarcity of homes on the market. However, recent national trends might seem confusing. According to Realtor.com, there’s a slight month-over-month increase in home inventory in many regions (illustrated by the blue states in the map below):

The national housing supply saw a slight increase of just over 5% last month.

Does This Signal an End to Limited Inventory?

You might be wondering if the era of limited housing supply is over. The simple answer is no. Context matters here. While there are reports of rising inventory, the number of homes for sale is still much lower than what’s typical in a more stable market.

The following graph shows the current number of active listings compared to the more stable years of 2017-2019 in the housing market:

Lance Lambert, Founder of ResiClub Analytics, notes:

“Housing market inventory is so far below pre-pandemic levels that October's big jump is still just a drop in the bucket.”

What does this mean for you? Real estate is highly localized. Working with a reliable local real estate agent can provide a clearer picture of the inventory in your specific area.

For buyers, there might be slightly more choices than in recent months, but be prepared for continued low inventory. A skilled agent can offer valuable advice and strategies to navigate the current market.

For sellers, the market is still favorable. Despite a national increase in inventory, it remains generally low, and in some areas, it might be even lower. New Jersey saw only a modest 3% increase in inventory month-over-month and housing supply remains tight.

Bottom Line

If you’re in the market to buy or sell a home, connect with a knowledgeable professional at Countryside Homes NJ and RE/MAX Select. We can keep you informed about the latest market trends, including the current state of housing supply, to ensure a successful transaction.

Client Testimonials for Countryside Homes NJ

At Countryside Homes NJ and RE/MAX Select, we pride ourselves on delivering exceptional service to our clients. But don’t just take our word for it—read what our satisfied customers have to say. From first-time homebuyers to seasoned real estate investors and new home builders, our clients appreciate our dedication, expertise, and commitment to their success. Here are some of their stories.

David R. New Homeowner

Collaborating with Keith LaBrunda and Heather Montalbano from Countryside Homes NJ and RE/MAX Select streamlined the home-buying process for me. They were attentive to my needs and preferences, ensuring they understood exactly what I was seeking in a home and what was within my financial comfort zone. Keith and Heather provided invaluable assistance during the offer stage, sharing insightful details that enabled me to place a successful bid on my desired property. They recommended associates to assist me with securing a mortgage, conducting home inspections, and acquiring homeowner's insurance. Post-purchase, they continued to be a resource, suggesting local companies to contact for internet, water, waste management, oil, and other essential services. The experience of purchasing a home with Keith LaBrunda and Heather Montalbano was seamless and enjoyable.

Rachel and Andre First Time Homebuyer

As first-time homebuyers, the process of finding and purchasing a home felt daunting. But from the moment we reached out to Heather and Keith at Countryside Homes NJ and RE/MAX Select, our worries were put to rest. Their team was incredibly patient, answering all our questions and guiding us through every step. They took the time to understand our needs and preferences, ensuring that we found the perfect home in a neighborhood we love. We were especially impressed by their vast knowledge of the local market and their commitment to ensuring we got the best deal possible. We can't thank them enough for making our dream of homeownership a reality. If you're in the market for a new home, we highly recommend Heather and Keith at Countryside Homes NJ and RE/MAX Select. They truly go above and beyond for their clients!

Prestia Family New Homeowners

From the moment we began our home search, Heather at Countryside Homes NJ and RE/MAX Select stood out as the epitome of professionalism and dedication. Her team's in-depth knowledge of the Rockaway Borough area and their unwavering commitment to our needs made our home buying journey not only smooth but truly enjoyable. As new homeowners in Rockaway Borough, NJ, we can confidently say that choosing Heather at Countryside Homes NJ and RE/MAX Select was the best decision we made. Her expertise, patience, and genuine care for our family's needs transformed what could have been a stressful process into a memorable and joyous occasion. We are beyond grateful for her support and would highly recommend her and her team to anyone looking to find their dream home. Thank you for turning our dreams into reality!