Inventory uptick signals more confident sellers

By REALTOR Magazine

More homes are gradually coming onto the market in a hopeful sign that homeowners may finally be warming up to the idea of selling, according to data from realtor.com®’s latest Weekly Housing Report. An incremental uptick in available inventory is welcome news to home buyers struggling to find a property to purchase. Last week, homes sold a full two weeks faster than the same time period a year ago and were listed for an average of $38,000 more, realtor.com®’s report shows.

“Home sales are shaping up for a record-breaking October,” says Javier Vivas, director of economic research for realtor.com®. “There are so many buyers in the market right now that even the slight improvements we’re seeing in inventory could push the number of homes sold this month near mid-2000s levels. If sky-high prices continue to lure more sellers into the market, it could prompt the inventory rebound we’ve been waiting for—which would be welcome news for frustrated buyers.”

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