Is rising home inventory good for the real estate market? Watch the video to learn more!
Rising home inventory is great for home buyers because it gives them more options to choose from. In a seller’s market, there are fewer homes available and buyers may have to compete against other buyers who are also looking for a home.
This can result in buyers paying more for a home than they would like to or being outbid on a home that they really wanted. With more homes on the market, buyers can be choosier and take their time to find the perfect home.
They are also more likely to get a better deal on a home since there will be more competition among sellers. In addition, rising home inventory is good for the economy because it helps to keep the housing market from becoming too overheated.
When there is too much demand and not enough supply, prices can skyrocket and this can lead to an economic downturn. Rising home inventory helps to prevent this by keeping prices stable and giving people the opportunity to buy homes that they can afford.