What Grand Rapids Home Buyers Need To Know About the Inventory of Homes Available for Sale

What Buyers Need To Know About the Inventory of Homes Available for Sale | MyKCM

If you’re thinking about buying a home, you’re likely trying to juggle your needs, current mortgage rates, home prices, your schedule, and more to try to decide if you want to jump into the market.

If this sounds like you, here’s one key factor that could help you with your decision: there are more homes for sale today than there were at this time last year. According to Calculated Risk, for the week ending in November 18th, there were 47.7% more homes available for sale than there were at the same time in 2021. And having more options for your home search may be exactly what you need to feel confident about making a move.

Here’s a look at where the increased housing supply is coming from so you can get a better sense of what’s happening in the market today and what it means for you.

What Caused the Growth in Housing Inventory This Year?

The increase we’ve seen in housing supply this year isn’t from the source you think it is. Rather than an influx of recent homeowners listing their houses for sale (known as new listings), the primary reason the supply has grown is because homes are staying on the market a bit longer (known as active listings).

That’s happening because higher mortgage rates and home prices have helped moderate the peak frenzy of buyer demand, which has slowed down the pace of sales. And, as the pace of sales has eased, inventory has grown as a result.

The graph below uses data from realtor.com to show that it’s active listings, not new listings, that have driven the growth we’ve seen over the past few months:

What Buyers Need To Know About the Inventory of Homes Available for Sale | MyKCM

And while overall inventory gains may slow down this winter due to typical housing market seasonality, you still have a chance to capitalize on the current supply.

What This Means for Your Home Search

Regardless of the source, the increase in available housing supply is good for buyers. More homes available for sale means you have more options to choose from as you search for your next home, and you may even have more time to consider them.

So, if you tried to buy a home last year and lost out in a bidding war or just couldn’t find something you liked, this may be the news you’ve been waiting for. If you start your search today, those additional options should make it less difficult to find a home you love, especially as some other buyers pause their search this holiday season.

Just remember, housing supply is still low overall, so it won’t suddenly be easy – it’ll just be less challenging than it was at this time last year. As a recent article from realtor.com says:

“Despite this improvement in the number of homes actively for sale, active listings still lag their pre-pandemic levels.”

The increase in housing supply helps put you in a great position to kick off the new year in your dream home. And who better to help you find it than a trusted, local real estate professional?

Bottom Line

If you’re ready to jump into the housing market and see what’s available in our local area, let’s connect.

316 Properties
Page 1 of 27
6
Beds
5F11/2
Baths
6,109
Sq.Ft.
2019
Year Built
8
Days on Site
23003090
MLS
Absolutely Incredible Custom-Built Byron Center Home w/ An Award-Winning Design by Visbeen Architects! Built W/ The Utmost Attention to Detail, Quality & Features! Sitting On 16+ Acres, 4488 92nd Is...
6
Beds
3F11/2
Baths
5,160
Sq.Ft.
2010
Year Built
1
Day on Site
23003850
MLS
Unquestionably one of the most pristine and versatile properties in West Michigan. Located for easy access to Saugatuck, South Haven and Holland; this Visbeen Designed, White Birch Builders...
4
Beds
3F11/2
Baths
6,250
Sq.Ft.
1995
Year Built
1
Day on Site
23003797
MLS
Gorgeous Estate on 10 Acres. Custom built features with a glamorous 4 season room, an in-ground heated salt water pool, and a 2 level heated pole barn big enough for all of your toys and projects -...
4
Beds
3F11/2
Baths
3,775
Sq.Ft.
2020
Year Built
1
Day on Site
23003819
MLS
This custom-built home was intelligently designed by nationally award winning Visbeen Architects. This stunning farmhouse design was meticulously built with Whitmore Custom Homes. Attention to detail...
3
Beds
2F11/2
Baths
2,338
Sq.Ft.
1975
Year Built
7
Days on Site
23003208
MLS
Lake Michigan home offers spectacular setting with approximately 180' of frontage located near South Haven & Saugatuck. Fabulous Lake views from the screened porch, great room, solarium, guest...
Pending
7810 Harmony Cove Ct SE Byron Center,  MI 49315
5
Beds
3F11/2
Baths
5,575
Sq.Ft.
2014
Year Built
2
Days on Site
23003324
MLS
Designed by Architect Chuck Postumus and built by Dan Vis Builders, this 5,575 sf. executive home exudes inspirational design elements of the West Indies with compatible features of Southern...
5
Beds
4F11/2
Baths
6,116
Sq.Ft.
2003
Year Built
2
Days on Site
23003610
MLS
The winding drive to this Byron Center home on almost 3 private acres welcomes you to this ranch-style home where you can take your entertainment game to a whole new level. The custom chef's kitchen...
5
Beds
4F21/2
Baths
4,734
Sq.Ft.
1996
Year Built
2
Days on Site
23003726
MLS
ADA: This completely remodeled 2 story is situated on over 12 acres of fenced property with pasture & stables. Perfect for horses or animal lovers. 2 additional outbuildings. Great setting with...
6
Beds
4F11/2
Baths
5,214
Sq.Ft.
2008
Year Built
1
Day on Site
23003888
MLS
Over 2.5 gorgeous acres inside the highly desirable River Bluffs neighborhood, this award winning Parade home features over 5,000 finished square feet with 6/7 bedrooms and 4.5 baths. This home is...
Pending
159 S River Ave #507 Holland,  MI 49423
$969,500
Neighborhood: Towers On River
2
Beds
2
Baths
1,674
Sq.Ft.
2022
Year Built
2
Days on Site
23003535
MLS
This property could be utilized as a short term rental which is almost impossible to find in the city of Holland. The Towers on River with their highly sought-after location, high-end finishes,...
5
Beds
4F11/2
Baths
4,078
Sq.Ft.
2022
Year Built
2
Days on Site
23003333
MLS
Welcome to a wooded private setting on over 6 acres that is less than a 1 mile to the heart of Jenison, Chicago Dr & 196. Home offers 5 bedrooms, 4.5 baths w/ over 4000 sq ft finished. The original...
5
Beds
3F11/2
Baths
3,520
Sq.Ft.
2022
Year Built
7
Days on Site
23003108
MLS
Incredible opportunity to own a new construction custom home sitting on 3.86 acres. This sprawling ranch home features 5 bedrooms, 3 baths, and 3,520 sq. ft. of finished space. The living room...

Tags: 

Ada Homes for Sale, Allegan Homes for Sale, Belding Homes for Sale,  Byron Center Homes for Sale, Caledonia Homes for Sale, Cedar Springs Homes for Sale, Comstock Park Homes for Sale,  Downtown Grand Rapids Condos for Sale, East Grand Homes for Sale, Featured ListingsForest Hills Homes for Sale, Grandville Homes for Sale, Grand Haven Homes for Sale, Grand Rapids Condos for Sale, Grand Rapids Homes for Sale, Greenville Homes for Sale, Holland Homes for Sale, Hudsonville Homes for Sale, Jenison Homes for Sale, Kenowa HIlls Homes for SaleKent City Homes for Sale, Kalamazoo Homes for Sale, Kentwood Homes for Sale, Lakefront Homes for Sale, Lake Michigan Homes for Sale, Lowell Homes for Sale, Newaygo Homes for Sale, Muskegon Condos for Sale, Northview School District Homes for Sale, Norton Shores Homes for Sale, Paw Paw Homes for Sale, Portage Homes for Sale, Rockford Homes for Sale, Sparta Homes for Sale, Tri County Homes for Sale, Vicksburg Homes for Sale, Walker Homes for Sale, Wayland Homes for Sale, Wyoming Home for Sale,
Zeeland Homes for Sale

Search for Condos

Byron Center Condos for Sale, Caledonia Condos for Sale, Downtown Grand Rapids Condos for Sale, Forest Hills Condos for Sale, Grandville Condos for Sale, Grand Rapids Condos for Sale, Jenison Condos for Sale, Kentwood Condos for Sale, Lowell Condos for Sale, Rockford Condos for Sale, Walker Condos for Sale, Wyoming Condos for Sale

Community Information

Ada Realtor, Belding Realtor, Byron Center Realtor, Caledonia Realtor, Cedar Springs Realtor, Comstock Park Realtor, East Grand Rapids Realtor, Forest Hills Realtor, Grandville Realtor, Grand Haven Realtor, Grand Rapids Realtor, Greenville Realtor, Holland Realtor, Hudsonville Realtor, Jenison Realtor, Kalamazoo Realtor, Kentwood Realtor, Lowell Realtor, Paw Paw Realtor, Rockford Realtor, Sparta Realtor, Walker Realtor, Wyoming Realtor, Zeeland Realtor,
Grand Rapids Foreclosures, Preferred Providers,  Blog

Post a Comment