Where Did All the Houses Go? Monthly Market Update April 2015
Well, what have we here?? It looks like we gained 1,000 more listings this month than we gained last month and we sold 2,000 more than we sold last month. That drops our inventory levels to 3.33 months. We are on the brink of a strong sellers market if this continues. The rule of supply and demand suggests this will cause price increases. Our team has experienced a major increase in buyer activity. The summer months approaching, looming interest rate increases, and the dwindling selection (and therefore increased prices) are the driving force behind the recent buyer activity that we are experiencing. Attn BUYERS! If you wait much longer you’ll pay more for less house and will have less to choose from. Period. Sellers, as we approach our busy season, get prepared. Do not relax due to the increased market activity. It will die down in July. If you wait too long you may be picked over.
