Finding the perfect home can be tough, especially if there aren’t many homes for sale. That’s why inventory is such a hot topic these days. There’s been a shortage of available homes over the past few years and it’s made buying a house more difficult, especially in the lower price ranges.
However, recent numbers from Zillow show that conditions are beginning to swing back in favor of home buyers. Inventory has been rising, and at a good pace in the markets that need it most. In fact, in some of the nation’s most competitive markets like San Jose, Seattle, Denver, Los Angeles, and San Diego, the number of homes for sale has seen double-digit increases year-over-year.
This is undoubtedly good news for home shoppers, as it gives them more options and therefore better chances at finding the right house. However, because the previous years’ inventory declines were significant, it’ll take some time to reverse those losses. Home buyers can still expect a competitive market this year, though it’s finally trending in their direction.