Whether you’re at a family dinner, a work event, or just hanging out with friends during the holidays, the housing market tends to pop up in conversation.

These are the three most common questions people are asking right now, along with clear answers to help you feel more confident about the market.

1. “Can I actually find a place if I decide to move?”

Absolutely, many more than just a year or two ago.

The number of homes available for sale has been going up over the last few years. Data from Realtor.com shows that there have been over one million homes on the market for six months in a row, which hasn’t happened since 2019 (see graph below).

That basically means two things:

• Buyers get more choices.

• Sellers have more places they can go next.

A lot of homeowners who waited to buy are now seeing that there are more options available. If you paused your home search last year because nothing seemed right, it might be a good idea to take another look. With more homes on the market today, you’re not battling over just a few listings like you were a couple of years ago.

Since there are more homes available, they’re not selling right away like before. This means buyers have a bit more breathing room, plenty of options to look at, and extra time to feel good about their choice.

2. “Will buying a house ever feel affordable for me?”

Affordability is finally starting to get better.

• Mortgage rates are starting to come down.

• Home prices aren’t rising as fast anymore.

That means your monthly mortgage payment is now hundreds of dollars less than it would have been just a few months ago (see graph below).

Buying a home is still challenging, but the numbers are beginning to look better — which makes homeownership feel like a realistic goal for many people again.

3. “Is it better if I just wait for prices to drop?”

Many people fear a housing market crash, but the data doesn’t support that. Sure, inventory has climbed, but it’s still far below the level that would push nationwide prices down significantly. Plus, homeowners now hold far more equity and are in a much stronger financial position than they were in 2008.

Every neighborhood moves at its own pace. Some places are still seeing prices go up, while others that jumped dramatically a few years back are settling down or slipping a bit. Across the country, though, the trend is steady: experts surveyed by Fannie Mae expect home prices to continue rising, but more slowly and at a more normal rate.

Bottom Line

The housing market can feel noisy and confusing with all the different opinions out there. If you want to know what these trends mean for your goals, let’s connect and go through it together.