Housing inventory has shot up over twenty percent year-over-year. So, are our low inventory struggles finally behind us? During the low interest rate days, housing inventory couldn’t keep up with demand. Within days of posting a listing, properties had already gone under contract, and buyers could no longer bid. But now, with higher <a href="https://www.biggerpockets.com/blog/investors-stop-worrying-about-rates-in-2024">interest rates</a>, we’re finally starting to see a return to “normal,” but a rate cut could take us back to scarce inventory in an instant. So, is now the time to buy?<a href="https://www.biggerpockets.com/blog/on-the-market-98">Mike Simonsen</a> from <a href="https://altosresearch.com/">Altos Research</a> joins us on this BiggerNews episode to give an update on housing inventory. Mike’s team tracks every home for sale in the country every single week and has been doing so for almost two decades. Today, he gives us the most recent data on homes for sale, why inventory is rising, the states that are seeing the most inventory hit the market, and whether or not we can expect to return to pre-pandemic inventory levels.Plus, for those debating waiting it out for lower <a href="https://www.biggerpockets.com/blog/real-estate-915">mortgage rates</a>, Mike shares exactly how rates will affect housing inventory and why waiting could throw you back into the <a href="https://www.biggerpockets.com/blog/win-bidding-war">bidding wars</a> once rates drop again. Mike even discusses the data behind <a href="https://www.biggerpockets.com/blog/housing-markets-with-declining-prices-march-2024">price cuts</a> and when you can expect sellers to start accepting lower bids. In This Episode We Cover:A housing inventory update and why more inventory is finally starting to hit the marketWhat happens to housing inventory if interest rates fall or riseFlorida, Texas, and other southern states that are seeing a surge in housing inventory Why most investors are wrong about price cuts What must happen if we’re to see inventory rise back to pre-pandemic levelsThe one thing buyers and sellers should know if they’re waiting for rates to fall And So Much More!Links from the Show<a href="https://www.biggerpockets.com/agent/match">Find an Agent</a><a href="http://biggerpockets.com/lenderfinder">Find a Lender</a><a href="https://www.youtube.com/channel/UCVWDbXqQ8cupuVpotWNt2eg">BiggerPockets Youtube Channel</a><a href="https://www.biggerpockets.com/forums">BiggerPockets Forums</a><a href="https://www.biggerpockets.com/membership-types">BiggerPockets Pro Membership</a><a href="https://store.biggerpockets.com/">BiggerPockets Bookstore</a><a href="https://www.biggerpockets.com/blog/real-estate-investing-bootcamps">BiggerPockets Bootcamps</a><a href="https://www.biggerpockets.com/podcast">BiggerPockets Podcast</a><a href="https://bit.ly/biggerpocketsswag">BiggerPockets Merch</a><a href="https://www.biggerpockets.com/signup?utm_source=owned_media">Join BiggerPockets for FREE</a><a href="https://www.biggerpockets.com/podcasts?utm_source=youtube&utm_medium=description&utm_campaign=none">Learn About Real Estate, The Housing Market, and Money Management with The BiggerPockets Podcasts</a><a href="https://www.biggerpockets.com/investment-calculators?utm_source=youtube&utm_medium=description&utm_campaign=none">Get More Deals Done with The BiggerPockets Investing Tools</a><a href="https://www.biggerpockets.com/forums/521-real-estate-events-meetups?utm_source=youtube&utm_medium=description&utm_campaign=none">Find a BiggerPockets Real Estate Meetup in Your Area</a><a href="https://store.biggerpockets.com/?utm_source=owned_media">Expand Your Investing Knowledge With the BiggerPockets Books</a><a href="https://biggerpockets.com/guest">Be a Guest on the BiggerPockets Podcast</a><a href="https://www.biggerpockets.com/users/davem27?utm_source=youtube&utm_medium=description&utm_campaign=none">Dave's BiggerPockets Profile</a><a href="https://www.instagram.com/thedatadeli/">Dave's Instagram</a><a href="https://www.instagram.com/biggerpockets/">BiggerPockets' Instagram</a><a href="https://www.biggerpockets.com/blog/on-the-market-98?utm_source=youtube&utm_medium=description&utm_campaign=none">The Housing Market “Signals” That Predict Where We’re Headed w/Mike Simonsen</a><a href="https://www.biggerpockets.com/blog/on-the-market-153?utm_source=youtube&utm_medium=description&utm_campaign=none">HousingWire CEO: This Inventory Shortage Could Last Decades</a><a href="https://link.chtbl.com/OTM">Hear Dave on The “On the Market” Podcast</a><a href="https://www.youtube.com/channel/UCxDXuLvtjJ9Est8PrG3i2VA">Watch Dave on the “On The Market” YouTube Channel</a>Connect with Mike<a href="https://altosresearch.com/">Altos Research</a><a href="https://www.linkedin.com/in/simonsen/">Mike's LinkedIn</a><a href="https://twitter.com/mikesimonsen">Mike's X/Twitter</a>Click here to listen to the full episode: https://www.biggerpockets.com/blog/real-estate-925Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email <a href="mailto:advertise@biggerpockets.com">advertise@biggerpockets.com</a>.  Learn more about your ad choices. Visit <a href="https://megaphone.fm/adchoices">megaphone.fm/adchoices</a>

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925: BiggerNews: Housing Inventory Up 24%, Are We Returning to “Normal”? w/Mike Simonsen

BiggerPockets Real Estate Podcast