Are There Actually More Seattle Homes for Sale Right Now?

Stay informed about the current state of the housing market whether you’re buying or selling. The number of homes available in your local market is crucial for your decision-making. Read on for an update on the current supply of homes for sale.

What’s the Truth About Today’s Housing Inventory?

Despite the narrative of a shortage of homes in recent years, recent national data, as shown on Realtor.com, indicates a monthly growth in inventory in various parts of the country. This may contrast with the previous trend and lead to some confusion about the current state of the housing market (see the blue states in the map below):

As the map shows, nationally, housing supply increased just over 5% last month.

Does That Mean the Days of Limited Inventory Are Over?

The recent growth in housing inventory might raise the question of whether the era of a tight housing supply is over. The short answer is no. It’s important to consider the context. While headlines may suggest an increase in inventory, the data indicates that the number of homes for sale is still substantially lower than what would be typical in a more normal market.

The graph below compares the latest active listing counts (homes currently available for sale) with the most recent normal years in the housing market (2017-2019):

As Lance Lambert, Founder, ResiClub Analytics, explains:

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

For individuals navigating the real estate market, it’s crucial to recognize that the situation varies greatly by location. Real estate is highly localized, and to gain a comprehensive understanding of the inventory dynamics in your specific area, it is recommended to partner with a trusted real estate agent. Their expertise can provide valuable insights into the unique conditions of your local market.

Prospective buyers may find slightly more options than in recent months, but it’s essential to be prepared for continued low inventory levels. A skilled real estate agent can offer valuable expertise and share strategies that have proven successful for other buyers in navigating the challenges presented by the current state of the housing market.

For selllers, there’s reassurance that the window of opportunity is still open to potentially receive multiple offers or achieve a quick sale. Despite a modest increase in inventory at the national level, it remains low overall, and in your specific area, it might even be lower. This suggests that favorable conditions for selling a house persist, and sellers should remain optimistic about their prospects in the current market.

Bottom Line

If you are considering buying or selling a home, it’s advisable to connect with a real estate professional. This will ensure you stay informed about the latest trends, especially those related to today’s housing supply, and enable you to make well-informed decisions regarding your move.