What you need to know about the recent changes in the housing market.
Our market is full of interesting changes. Despite what you may have heard in the media, year-over-year price increases remain steady. However, month-over-month prices have taken a small hit. What does this mean for our market? Is it seasonal, or does it indicate a huge shift in our market? Today I’ll take you through all the latest stats and explain what they mean for you.
You can listen to my full market update in the video above or skip to each topic using the timestamps provided:
0:00 — Introduction
0:38 — Prices have pulled back slightly, but it’s normal for this time of the year
1:32 — Inventory is increasing across the board
2:11 — We were in an extreme seller’s market for a long time; now things are more balanced
3:07 — Some velocity is gone from our markets, but they remain strong
3:42 — Fewer new homes are coming to market
4:27 — There are plenty of opportunities in this market
5:28 — Sellers have to be more aggressive in today’s market
6:08 — Wrapping up
If you have questions about this topic or anything else, please call or email me. I am always willing to help!