Price REMAIN FLAT! LITERALLY, no movement from March to April.
What’s UP Year over Year?
- Days on Market – 33%
- Months of Inventory – 78%
What’s DOWN Year over Year?
- Prices – 2.4%
- Closed sales – 44.8%
- Active Inventory – 1.6%
What that means to you?
- We quite possibly may have hit that traffic jam we’ve all been alluding to.
- Inventory levels are not changing enough in either direction to heavily impact supply or demand or affordability.
- Rates are high… or now normal.
- So ADJUST – this might be what it is for some time.
- Housing crisis – we continue to discuss this and yet, little has been done to affect progress in this arena; locally or nationally.
- As a consumer or industry professional, don’t expect this to change anything in the short future or even the next decade.
- When consider home ownership, you have decide whether you can afford it in any market.
- Can you sustain the payment, the rate, etc.
- Don’t expect quick change.
- Or stabilization. Expect this congestion for a minute or two.
- Work with a PROFESSIONAL! A local professional that understands your micro market.
- And remember your favorite title professional team – me and Ticor!
