When compared to pre-pandemic levels, the number of homes for sale is about 50 percent lower than normal. That’s why prices have been increasing and homes have been selling so quickly. Simply put, there isn’t enough inventory to satisfy the number of buyers out there. The good news is, though, things are getting better. In fact, according to new numbers from the National Association of Realtors’ consumer website, there were 646,053 available homes for sale in September. That’s the highest it’s been all year. Danielle Hale, the site’s chief economist, says the news is encouraging, but the market remains competitive. “This September, buyers had more options than they’ve had all year and while that’s typical of early fall, that’s not what happened in 2020,” Hale said. “Still, it’s important to remember that while buyers may have an easier time this fall than they did in the spring, the market remains more competitive than it has been historically at this time of year.” (source)
