The supply of for-sale homes grew in January 2019, up 6 percent annually, and in the most expensive markets, for-sale supply increased 12 percent in that time.
The findings from Realtor.com may offer buyers some relief, while throwing some cold water on some sellers' list price aspirations. The real estate platform's chief economist Danielle Hale explains, "The greater availability of homes for sale is a good thing for buyers. But we've just had a record-low number of homes for sale in the last year," adding, "There's a bit of a mismatch of what's available for sale," says Hale. "People are still interested in entry-level, more affordable properties."
Of course, this market isn't so great for sellers. Having seen the big bucks their neighbors had raked in over the previous years, many hoped to do at least as well, and priced their residences high. But as the market has shifted, sellers have been forced to adjust their expectations. About 15 percent of realtor.com listings saw price reductions, up 2 percent from a year earlier.
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