The Sweet Spot of This Spring’s Market

Between the NAR Settlement news and ongoing economic challenges, this isn’t the spring market most people were expecting.

And if you’re feeling like you can’t quite catch a break right now, you’re not alone.

There is, however, a silver lining to real estate right now. One of the biggest pain points of the last number of years, inventory, is finally seeing some relief.

While other areas of the market remain volatile and challenging– this is an incredible opportunity for you to have powerful and meaningful conversations with your sphere right now. The kind that can prove your expertise, value, and yes, generate some business.

Here are some insights and data you can use to do just that.

First, let’s talk numbers. According to the latest data from Realtor.com, 2024 is seeing an uptick in available homes, a welcome change considering the shortages in recent years. Inventory is expanding, presenting us with a landscape of possibilities.

Here’s a map of the whole country that shows year-over-year changes in inventory. As you can see, there’s been positive year-over-year growth in most states.

So, does this uptick in inventory spell smooth sailing for homebuyers?

On the one hand, more inventory means more options for clients to explore, which is undoubtedly a positive development.

For first-time homebuyers especially, it means more to choose from, especially in the lower, more entry-level price ranges That can help take the edge off affordability challenges brought on by continued mortgage rate volatility.

On the other hand, we have current homeowners. Those looking to sell and move into their next home will have both plenty of demand for their current home and more options to choose from than they had at this time last year.

It’s a win-win for everyone.

As real estate agents, we’re not just facilitators of transactions; we’re guides leading our clients through the complexities of the market. It’s our job to provide context, offer insights, and equip clients with the knowledge they need to make informed decisions.

Now more than ever, our expertise is invaluable. We know the local market inside and out, and it’s our duty to share that knowledge with our clients. By understanding the nuances of the inventory situation in their desired area, we can help them navigate the market with confidence.