Spring is shaping up to be a prime opportunity for homebuyers. Why? Because inventory is increasing, and sellers are becoming more flexible, giving buyers more choices and negotiating power than they've had in years. Here’s why this season could be the right time for you to make your move.
More Homes Are Available Than in Recent Years
The number of homes for sale this February was higher than in any of the past five Februarys. According to Realtor.com, housing inventory has surged by 27.5% in just the past year.
This rise in available homes is a big win for buyers. More choices mean a better chance of finding a home that meets your needs, and with inventory expected to keep climbing, your options will continue to improve. Danielle Hale, Chief Economist at Realtor.com, highlights another major benefit of increasing inventory:
"Buyers will not only have more home options . . . but they are also likely to find somewhat lower asking prices and more time to make decisions – all buyer-friendly factors as we inch closer to the busy homebuying season."
In other words, not only do you have more choices, but you may also have more time to consider them without feeling rushed.
More Sellers Are Reducing Prices
With more homes on the market, some sellers are seeing their properties sit longer, particularly those who initially priced too high. The result? More price reductions.
Realtor.com data shows that the number of listings with price cuts has increased compared to previous years. This means that sellers are more willing to negotiate, giving buyers more leverage in negotiations, whether it's for a lower purchase price, closing costs, or even repairs.
Looking back at housing market trends from 2017-2019, today’s price reductions are aligning with more typical market conditions. This shift gives buyers a significant advantage not seen in recent years.
Bottom Line
If you’ve been waiting for the right time to buy, this spring could be your moment. The combination of rising inventory and increased seller flexibility creates a market where buyers have more choices and negotiating power.
However, every market is different. If you're wondering how this shift impacts your homebuying journey, working with a local expert can help you navigate the options and find the best deal for you.
Are you ready to take advantage of the growing inventory? Connect with a local real estate professional today to explore your options.
