The Major Cities Where You Can Find The Most Homes Ready For Sale
Every homebuyer out there will tell you that finding a reasonable listing last year felt impossible. Low inventory combined with high prices and mortgage rates created a situation where many buyers had to either stop searching or settle for less-than-ideal situations in their quest for homeownership. However, things have recently started to change. According to Fortune, inventory has increased by 65.5% between 2022 and 2023 across the U.S., bringing the total available homes for sale to 625,875, giving current buyers just a bit more power in finding what they want.
However, certain cities have gotten a much larger inventory boost than others. Depending on your budget, family size, and lifestyle, those who are tired of having minimal options may benefit from taking a look at the areas where home listings are abundant. Here are the cities with the highest inventory growth and the details you should know as a buyer.
Areas with inventory growth
According to Realtor, the metro with the highest inventory growth is Ogden, Utah, whose year-over-year active listings increase was 392%. This town is only an hour's drive from Salt Lake City, and in January, there were over 1,300 listings — when last year, the numbers were below 300. The current median price is also about $542,450. So although you may have more options, you'll still need to have a larger budget in mind if you plan on moving to the Beehive State.
Coming in second is Huntsville, Alabama, whose year-over-year listings increase was 319%. Here, the amount of time a listing spends on the market has doubled to 69 days. As a result, buyers may now have more leverage when dealing with a seller who's desperate to get their residence off the market. In January, there were 1,500 listings available, and the current median home price is $389,800, which hovers around the national average. So, Huntsville may be a better option for families working with a tighter budget.
Austin, Texas; Nashville, Tennessee; and Raleigh, North Carolina, are among the larger cities that have seen huge increases in home availability.