Oriana Suarez November 1, 2024
Buyers
Homeowners typically slow down their moving plans as the summer months wrap up, so fewer homes are listed for sale in the fall. It’s a predictable, seasonal trend in real estate. But this year, mortgage rates came down, and at the same time, the number of homes on the market usually started to decline. So, what happened? More homeowners decided to sell, so more homes came to the market.
The most recent data from Realtor.com reveals that in September, the number of homes put up for sale increased by 11.6% compared to this time last year.
As the green circle in the graph below shows, the typical September decline in homes coming to the market didn’t happen – that number went up (see graph below):
Ralph McLaughlin, Senior Economist at Realtor.com, explains why there was an unseasonable rise:
“This sharp increase is largely due to the decline in mortgage rates in mid-August, enticing homeowners to sell.”
So, as rates came down at the end of the summer, more people jumped into the market and decided to make their move.
It means more fresh options to choose from than you’ve had in a while – not the ones that have been sitting around, unsold.
But keep in mind, that mortgage rates have been volatile lately, ticking up slightly in recent weeks, which could limit the number of people who feel comfortable with the idea of selling in the months ahead. And in this market, it’s mortgage rates that are largely driving homeowner decisions.
Whether you're looking for a starter home, an upgrade, or hoping to downsize, you have more homes to choose from right now. And if you can find what you’re looking for, know that these new, fresh options won’t be on the market forever. So, staying on top of what’s available in your local area with a trusted agent is key.
And remember, one month doesn’t make a trend. So, what does that mean going forward? Whether more homeowners than normal continue to put their houses on the market will largely depend on what happens with mortgage rates and the economic factors that impact them, like inflation, employment, and the reactions by the Federal Reserve.
With that in mind, now might be your moment, while more homes are available – if you’re ready, willing, and able to buy this fall.
Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), explains:
“The rise in inventory – and, more technically, the accompanying months’ supply – implies home buyers are in a much-improved position to find the right home and at more favorable prices.”
As rates came down at the end of the summer, sellers started to trickle back into the market, which means buyers have more choices right now. Let’s connect to make sure you have a trusted advisor to help you navigate the new options before they’re all scooped up.
(908) 445-5339 | [email protected]
Stay up to date on the latest real estate trends.
Sellers
June 11, 2025
Your step-by-step guide to selling a home in Union County, NJ—covering pricing, preparation, marketing, and closing in today’s 2025 real estate market.
Buyers
June 4, 2025
Why Roselle Park Is a Great Choice for First-Time Buyers
Buyers
May 21, 2025
Explore the top neighborhoods and housing markets in Union, Middlesex, Essex, and Bergen Counties with insights from the experts at Florostone Realty.
Sellers
May 13, 2025
Florostone Realty's Proven Strategies for Maximizing Home Sales in New Jersey's Competitive Markets
Tips
May 7, 2025
Expert Tips to Sell Fast and Maximize Value in 2025
Tips
March 29, 2025
From SEO and social media to email marketing and referrals, this blog breaks down the best strategies to attract and convert leads without picking up the phone.
Sellers
March 15, 2025
Learn why a pre-listing inspection may be the smartest move before putting your house on the market!
Buyers
March 1, 2025
Learn how to navigate high prices, expand your search area, and leverage local knowledge to find the perfect first home.
Tips
February 24, 2025
Starting out in real estate can be overwhelming, but with the right strategies, new agents can quickly grow their client base.
We strive to become your go-to Real Estate Advisors. Book a free consultation today and let’s get started with a buying or selling plan for your home customized to your unique timeline.