The real estate market is offering a breath of fresh air for buyers this year. With more homes on the market than we’ve seen in years and slower price growth, there’s a noticeable shift in opportunities. Here’s how these trends can benefit you and why having a knowledgeable real estate agent—especially one fluent in your preferred language—can be a game changer.
1. You Have More Options Than Ever
Housing inventory has seen a significant boost, growing by 29.2% in October compared to the same time last year. This marks the highest count of homes for sale since December 2019.
What does this mean for buyers?
- Less competition: More listings reduce the frenzy of competing offers.
- More time to decide: With homes staying on the market longer, you can weigh your options more carefully.
As Hannah Jones, Senior Economic Research Analyst at Realtor.com, explains, “burgeoning home supply means buyers have more options.”
For bilingual or international buyers, working with a multilingual REALTOR® can make the search process smoother and help you navigate these increased options with ease.
2. Slower Home Price Growth Improves Affordability
The surge in housing inventory has also slowed home price growth, creating more budget-friendly opportunities for buyers. As Lance Lambert, Co-Founder of ResiClub, notes, markets with inventory at pre-pandemic levels have seen prices soften or even decline.
- Relatively flat prices: For the third consecutive month, U.S. house prices showed minimal movement, which could help improve affordability.
- Budget flexibility: Slower growth gives you the chance to find a home within your price range without being outbid.
However, affordability still varies by market, making it essential to work with an agent who understands local trends.
Why You Need a Knowledgeable REALTOR®
Navigating today’s market requires expertise and local insight. A REALTOR® who knows the community can:
- Pinpoint the best neighborhoods for your budget and lifestyle.
- Negotiate effectively to secure the best deal.
- Guide you through inventory trends and price changes.
For international buyers or those seeking tailored support, a multilingual agent can help you fully understand the market and ensure nothing gets lost in translation.
Bottom Line
The combination of rising housing inventory and slower price growth makes this an opportune time to buy. More choices and less competition mean you can find a home that fits your lifestyle and budget without the stress of a bidding war.
At Auburn International Real Estate Group, we offer multilingual support to ensure every buyer, whether local or international, feels confident and informed. Ready to explore your options? Contact us today to start your homebuying journey!
