If you’ve taken a break from house hunting in recent years, you’re definitely not alone—and you still have plenty of opportunities. Actually, now could be a great time to jump back in. There are more homes available, prices are stabilizing in many neighborhoods, and mortgage rates are becoming more manageable. The current market is giving you something that’s been in short supply lately: real options.

Experts say buyers haven’t been in a stronger position in a long time. Here’s what they’re saying about the current market.

Affordability Is Finally Improving 

Lisa Sturtevant, Chief Economist at Bright MLS, explains that we’re finally seeing a shift in affordability—things are starting to get easier for buyers.

““Slower price growth coupled with a slight drop in mortgage rates will improve affordability and create a window for some buyers to get into the market.”
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— Lisa Sturtevant, Chief Economist at Bright MLS

Mortgage rates have come down from their recent peaks, and home price increases have cooled off. That combination is making homes easier to afford than they have been in quite a while.

There Are More Homes on The Market

One of the main reasons prices are starting to come down is that there are more homes available right now. Realtor.com reports that the number of homes for sale has increased by 17% compared to this time last year. That means you have more choices, less competition from other buyers, and a better shot at finding a place that truly fits your needs.

Lawrence Yun, the Chief Economist at the National Association of Realtors (NAR), explains:

““Homebuyers are in the best position in more than five years to find the right home and negotiate for a better price. Current inventory is at its highest since May 2020, during the COVID lockdown.” 
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— Lawrence Yun, the Chief Economist at the National Association of Realtors (NAR)

Check out these numbers.

Yun points out that inventory is rising all across the country. In fact, every region has more homes available on the market now compared to the same time last year (see graph below).

That means you'll have plenty of homes to pick from, whether you want a bigger backyard, a shorter drive to work, or you're ready to stop renting for good.

Every market is different...

When you look at how inventory has grown recently compared to the years before the pandemic (2017–2019), the story shifts a bit depending on your location (check out the graph below).

The green bars highlight areas in the South and the West where inventory has not only bounced back but actually surpassed pre-pandemic levels. On the other hand, the red bars indicate that supply remains tight in the Northeast and Midwest, with inventory still running below the usual levels.

And that’s why it’s still a win no matter where you are.

When you take a step back and look at the big picture, inventory is up across all regions, which means you have more choices everywhere—even though some areas might have more homes for sale than others.

With fewer buyers looking and more homes available, sellers are more open to negotiating to close a deal.

It all comes together as a big advantage for buyers right now.

That’s exactly why teaming up with a local expert matters. What’s going on in your zip code or neighborhood can be very different from what you see at the national or regional level. But the big picture is pretty straightforward: since there are more homes available now, buyers have more negotiating power than they did a year or so ago.

If you paused your home search because the market seemed too competitive, prices felt high, finding the right place was tough, or everything felt overwhelming, now might be a great time to revisit your options.

If you’re not ready to dive in just yet, no worries. You can begin by planning ahead. Team up with a trusted agent who’ll help you figure out your budget, focus your search, and get you prepared so when the right home comes along, you’re ready to move.

 Bottom Line

Curious about what’s going on in our neighborhood? Let’s chat so I can give you a personalized update on what’s on the market and help you get prepared for when the time feels right for you.

This isn’t 2021 anymore.

This isn’t even 2023 or 2024 yet.

This market is fresh and you may be surprised by what’s out there.