Listing inventory continues to rise. The extreme demand and buyer competition seen in the spring, while still seasonally strong, has been normalizing. Showing activity in the past month has been up 5% compared to last year and 26% compared to 2019. In the upper-end markets,…
Inventory is rising and although monthly new pendings remain strong, sales are leveling. The extreme demand we’ve experienced is cooling down as so many of the buyers who came into the market over the past fifteen months have by now made it to the closing…
Many of your markets are showing signs of growing inventory and longer market times. We have seen depleted inventory for an extended period which has caused buyers to act fast. Supply levels have likely bottomed and are back on the rise. The market with its…
The market showed signs of slowing down earlier and longer for the 4th of July holiday. With the help of fresh new listings, it is back on track with weekly new pendings and closed sales outpacing 2019 and running close to last year’s big bounce numbers…
While monitoring weekly showings, new pendings and closed sales activity we’re seeing early signs that the sizzling hot spring markets are dialing down that heat. As society reopens to a new post-normal, buyers who have been hyper focused on buying homes, suddenly have graduation parties,…
Available listing levels, which had dropped every month since last June, are finally rising. Buyers who’ve been waiting for those fresh new listings are jumping on them. April new pendings and closed prices were up and that increase in new pendings will lift closed sales…
Unprecedented demand is going head to head with the depleted inventory levels that are challenging buyers. In most markets, demand is winning and YTD sales are slightly ahead of both last year’s and 2019’s pace. In markets that have seen a flow of fresh new…
Extreme inventory shortages have been no match for the intense buyer demand. We’ll see how that exchange continues to play out, but so far 2021 sales, values and the percentage of homes selling at or over list price and within 10 days are all up…
Typically, market activity and prices fall off in the fourth quarter as demand drops and inventory becomes depleted. Despite record-low inventories (down 58% from a year ago), both sales and prices finished the year with extreme momentum. Year over year December sales were up 17%…
This year’s remarkable demand and strong recovery have been fueled by historic low interest rates and the heightened focus on “home” as a result of Covid lockdowns and temporary closings of work, school and entertainment places people would otherwise be. While many have taken a…