Real Estate in San Diego's North County — Adam Foley — DRE #01973295
There are more homes on the market right now than there have been in years – and that could be a game changer for you if you’re ready to buy. Let’s explore what’s driving this trend and how it might benefit you as a buyer.
What’s Motivating Homeowners To Move Right Now
Over the past few years, many homeowners delayed moving to avoid giving up their lower mortgage rates. This hesitation has been a key factor keeping inventory low. However, that’s beginning to change.
A growing number of homeowners are deciding to not wait any longer, often driven by personal or lifestyle changes. Here are some of the main reasons homeowners are deciding to sell now:
- A Need for Change – Job relocations, a desire to be closer to family, or simply craving a fresh start can spark the decision to sell.
- Outgrowing Their Current Home – Lifestyle changes, such as a growing family or needing a home office, may drive the search for a larger property.
- Downsizing After Retirement – Empty nesters or retirees often sell to simplify their lifestyle or reduce maintenance needs. A smaller home can free up resources and make life easier.
- Relationship Changes – Relationship changes often necessitate a change in living arrangements.
- Health and Accessibility Needs – Health concerns or mobility challenges might make a previously comfortable home less suitable. Selling to find a more accessible space can significantly improve quality of life.
If any of these situations sound familiar, you may have quite a few options in 2025.
You Have More Options To Choose From
The number of homes for sale is increasing, giving buyers more choices than in recent years. As Realtor.com explains:
“There were 29.2% more homes actively for sale on a typical day in October compared with the same time in 2023, marking the twelfth consecutive month of annual inventory growth and the highest count since December 2019.”
With more choices available, you’re more likely to find the home that best fits your needs.
Home Price Growth Is Slowing
The increased number of homes on the market is also slowing home price growth, which could help you find a property within your budget. In some areas, active inventory levels have even surpassed pre-pandemic numbers, leading to softer or flat price growth. As Lance Lambert, Co-Founder of ResiClub, says:
“Generally speaking, housing markets where active inventory has returned to pre-pandemic 2019 levels have seen home price growth soften or even decline outright from their 2022 peak.”
FOR BUYERS this can mean more affordability and less pressure to stretch your budget. Dr. Anju Vajja from the Federal Housing Finance Agency explains:
“For the third consecutive month U.S. house prices showed little movement . . . relatively flat house prices may improve housing affordability.”
FOR SELLERS this prompts an opportunity to reposition your real estate holdings after years of significant growth.
Bottom Line
With more homes on the market and slower price growth, you’re in a better position to find and buy a property that fits your lifestyle and budget. And if personal or lifestyle changes have you thinking about selling your current property, now could be the perfect time to make your move.
Let’s connect to discuss your unique situation and how we can guide you through today’s market. Whether you’re buying or selling, I’m here to help!