The inventory of homes is reportedly at a "healthy level"
West Penn Multi-List has reported that Western Pennsylvania saw an increase in home listings compared to last year at this time.
"The inventory of homes for sale in our region is at a healthy level," said George Hackett, president of West Penn Multi-List and Coldwell Banker Real Estate Services in Pittsburgh. "We started the year on the right foot for buyers, with plenty of homes from which to choose."
This year’s home listings went up by 11.68% (2,581 units versus 2,311 in 2018). Closed sales and closed sales volume, on the other hand, went down by 2.62% (1,672 units in 2019 versus 1,717 in 2018) and 5.68% ($297,697,928 in 2019 versus $315,627,525 in 2018) respectively. In addition, the average sale price also decreased by 3.14% ($178,049 in 2019 versus $183,825 in 2018) this year.
"Pittsburgh is one of two cities determined to be the best in the country for first-time homebuyers, according to a recent LendingTree study," Hackett said. "Even for those worried about their credit score, mortgage or down payment amount, there are some great lending and financing options available that first-time homebuyers should explore."
