Paused Your Moving Plans? Here’s Why It Might Be Time To Hit Play Again

 

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Last year, 70% of buyers abandoned their home search – and maybe you were one of them. It makes sense. Inventory was low, prices were high, and mortgage rates were up and down like a rollercoaster. All of that made it really hard to find a home you loved – and could afford.

But guess what? The market is shifting.

So, if you paused your moving plans in 2024, it might be time to hit play again. Here’s why.

More Inventory Opens Up More Options

Even if you could make the numbers work, the lack of available homes in recent years probably made it hard to come by something that fit your needs. But inventory is rising, which means you have more options now.

According to Realtor.com, inventory has jumped 27.5% since this time last year (see graph below):

So, if you were reluctant to list your house because you weren’t sure where you’d go if it sold, you have more choices than you did a year ago. That’s a big win.

Homes Are Staying on the Market Longer, Too

When the supply of homes for sale is low, they’re snatched up quickly because there just aren't enough of them to go around. And a few years ago, that meant your house could sell overnight. While that’s not always a bad thing, if you’re planning a move and also need to find your next home, a slower pace isn’t the end of the world. In fact, it’s welcome relief.

Now that inventory has grown, homes are staying on the market longer, meaning you don’t have to feel as rushed in the process (see graph below):

The latest data shows the typical time homes spent on the market went up by about 8% this year – that’s higher than we’ve seen since 2020, but still a faster pace than before the market ramped up. And it’s about a week longer than last year. Talk about a sweet spot for movers. It may seem like just a few days, but it gives you more flexibility and time to be thoughtful about your decisions. As Hannah Jones, Senior Economic Research Analyst at Realtor.com, notes:

“There are more homes for sale than in the last few years, which means the market pace is a bit more manageable–with longer days on market–and many sellers are more flexible . . . Though buyers face still-high housing costs, they may find a bit more give in the market, which could give them more time to make a decision, even in the busy spring and summer months.”

And if you’re thinking – but wait – doesn’t that mean it will be harder to sell my house? Don’t worry. With inventory still almost 23% below the pre-pandemic norm, well-priced homes are selling, especially as more buyers step back into the game this season.

Bottom Line

With growing inventory, sellers who want to upgrade, downsize, or relocate have more choices. Plus, with less pressure to rush into an offer, it could be a great time to revisit your home search if you’ve put it on hold.

With more homes on the market and more time to make decisions, what else do you need to see in order to kickstart your home search again? Let’s talk about what’s happening in our local market right now.

4 Things To Expect from the Spring Housing Market

 

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Spring is in full swing, and the housing market is picking up along with it. And if you’ve been wondering whether now is the right time to buy or sell, here’s the inside scoop on why this spring may be a great time to make your move.

1. There Are More Homes for Sale

After a long stretch of tight inventory, the number of homes for sale is finally improving. According to recent national data from Realtor.com, active listings are up 27.5% compared to this time last year. 

Look at the graph below and follow the green line for 2025. You can see, even though inventory levels still haven’t returned to pre-pandemic norms (shown in gray), that number is higher than it has been going into the spring market over the past few years (see graph below):

Buyers: This means you have more choices, and you can be more selective.

Sellers: With more homes available than in recent years, you’re more likely to find what you’re looking for when you move. And knowing that inventory is still below more normal levels means there will be demand for your home when you sell it, too.

2. Home Price Growth Is Moderating

As inventory grows, the pace of home price growth is slowing down – and that will continue into the spring market. This is because prices are driven by supply and demand. When there are more homes for sale, buyers have more options, so there’s less competition for each house. Rising supply and less buyer competition causes price growth to slow, but it should still remain positive in most markets. As Freddie Mac says:

“In 2025, we expect the pace of house price appreciation to moderate from the levels seen in 2024, while still maintaining a positive trajectory.”

And while prices aren’t dropping at the national level, every market is different. Some areas are seeing stronger price growth, while others are cooling off or even seeing some price declines.

Buyers: The slower pace of growth means prices aren’t rising as quickly as before – and that’s a relief. Any home you buy now is likely to appreciate in value over time, helping you build equity.

Sellers: While prices are still rising, you might need to adjust your expectations. Overpricing your house in a more balanced market could mean it takes longer to sell. Pricing your house competitively is going to be key to attracting offers.

3. Mortgage Rates Are Stabilizing

One of the biggest hurdles for buyers over the past couple of years has been high, volatile mortgage rates. But there’s some good news – overall, they’ve stabilized in recent weeks – and have even declined a bit since the beginning of this year. And while that decrease hasn’t been a big drop, stabilizing mortgage rates has helped make buying a home a bit more predictable. According to Selma Hepp, Chief Economist at CoreLogic:

“With the spring homebuying season upon us, the recent improvements in mortgage rates may help invite homebuyers back into the market.”

Buyers: When mortgage rates are more stable, it’s easier to plan ahead because you have a better idea of what your future payment might be. But remember, rates will continue to be volatile. So, lean on your agent and your lender to make sure you know what the latest mortgage rate means for you.

Sellers: Slightly lower rates that are starting to stabilize are encouraging more buyers to move forward with their plans. That’s good for demand when you’re planning to sell your house.

4. More Buyers Are Returning

With more inventory, slowing price growth, and stabilizing mortgage rates, buyers are gaining confidence and coming back into the market. Demand is picking up, and data from the Mortgage Bankers Association (MBA) shows an increase in mortgage applications compared to the start of the year (see graph below):

Buyers: Acting sooner rather than later could be a smart move before your competition heats up even more.

Sellers: This is great news for you – more buyers mean a better chance of selling your house quickly.

Bottom Line

Do you have questions about what the spring market means for you? Let’s connect and talk about how to craft your plan this season.

With more homes for sale, slowing price growth, and stabilizing mortgage rates, how will this impact your decision to buy or sell this spring?