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This supply increase translated into the number of homes actively for sale growing by 35.8% in August.
Now, these too might ease.
Yet, does this mean now is the time to buy a home?
According toRealtor.coms senior economist Ralph McLaughlin, these higher inventory levels should help homebuyers in several different ways.
Heres a look at whether experts thinknow is the right time to buy a home.
Indeed, in addition to increased inventory, mortgage rates are also decreasing.
Remember when we were all anticipating the floodgates to open once inventory freed up?
said Pete Evering, business development manager,Utopia Management.
This might be the start of it, and it might be good news for buyers.
What happens in thenext few monthsis crucial, so the best recourse for most is to wait and see.
This might also mean its better to hold off on a home purchase.
Whats more, while there are more choices for buyers, not all inventory is equal.
Meanwhile, for instance, Dallas-Fort Worth-Arlington, Texas, saw an increase of only 50.6%.
Of note too is that while inventory this August improved, its still not at the pre-pandemic levels.
I always add, If your finances and plans align with it.'
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