When summer ends, home listings usually slow down for the season. But this fall, lower mortgage rates have inspired more homeowners to list their properties—creating more options for buyers.
Data from Realtor.com shows a notable 11.6% increase in new listings this past September compared to last year. This shift from the usual seasonal decline has provided a welcome boost in available homes. Ralph McLaughlin, Senior Economist at Realtor.com, attributes this to the recent dip in mortgage rates:
“This sharp increase is largely due to the decline in mortgage rates in mid-August, enticing homeowners to sell.”
More Choices for Buyers Right Now
If you're shopping for a home, these new listings mean more fresh options that haven’t lingered on the market. Mortgage rates remain somewhat unpredictable, so the increased inventory might not last. And rates will continue to influence whether homeowners feel comfortable selling as we move toward winter.
Why Consider Buying Now?
Whether you’re seeking a first home, an upgrade, or downsizing, this increase in listings might give you a better chance to find your perfect fit this fall. Lawrence Yun, Chief Economist at the National Association of Realtors, explains the advantage:
“The rise in inventory – and, more technically, the accompanying months’ supply – implies home buyers are in a much-improved position to find the right home and at more favorable prices.”
Bottom Line
With more homes on the market this season, buyers are in a good position. If you’re ready to buy, connect with me, Teresa Hill, to navigate the latest listings and make the most of these new opportunities before inventory shifts again!
*Information pulled from Realtor.com, NAR, & Keeping Current Matters
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