Part 3/9:
The landscape is beginning to shift as we inch closer to what could be considered "normal" inventory levels. For context, inventory is still approximately 16% below the levels recorded in 2019. The last few years saw a dramatic decrease in inventory fueled by low mortgage rates; however, rising rates since early 2022 have led to an uptick in available homes. This fluctuation in inventory suggests a potential easing in buyer competition, which could positively affect first-time homebuyers looking for their first property.