Let’s Crunch the Numbers!
As we move into the final months of the year with Fall right around the corner, what are the experts saying about the current housing market?
Well, all the data is showing we are still in an inventory crunch, as it has been most of this year. In fact, new data from Realtor.com shows there are 20% fewer homes newly listed for sale for the month of August compared to last year.
This is putting a crunch on buyers looking to purchase a home and sellers wanting to sell. Higher mortgage rates are keeping some homeowners in their existing homes. But with that said, data is also showing affordability driving buyers and sellers into other markets outside where they live. This means we are seeing more buyers and sellers moving into different regions of the country where it is more affordable. Reach out to my team and I so we can help strategize your next move.
Whether you want to sell your existing home, buy your first home, upsize, downsize, purchase a vacation home, or just talk about options, a real estate professional is your best source for information based on current trends in our area. If you're interested in learning more about the 2023 real estate forecast, don't hesitate to reach out - we're happy to help!