Buyers continue to remain aggressive as many in the market were delayed by the spring lockdown. Inventory remains down 39% compared to last year across all markets with daily showing and pending activity running ahead of last year. These market conditions have played favorable for values with average sales price up 6% over 2019.
Record-low interest rates and strong demand will continue to drive sales so long as there are enough listings to keep the fire from going out. Potential sellers who have been waiting to see how Covid would impact the market would do well to jump in while it’s hot.