In most local markets, inventory levels continue to grow compared to last month and last year. YTD closed sales are only down 1% from a year ago and although most values continue to rise, they are leveling out—especially in most higher-end markets.
Pay attention market movement within areas and price ranges. Some are going up, some sideways and some are falling.
Despite some general market slowing, there are still “hot pockets” with competitive bidding. Inside this month’s Housing Report is a simple idea we can use to coach buyers on their “over-asking” bid amounts.