Back when we had a normal market, it was considered ‘balanced’ or ‘healthy’ to have a 2:1 ratio of active listings to pendings. Now that the Fed’s QE is over, and mortgages are slightly easier to get, today’s environment is probably as close to normal as we’re going to get.
How are we doing?
With jumbo rates breaking records daily, there’s no surprise that the lower-end of NSDCC is scorching hot – and would be hotter if there were more decent houses for sale:
|NSDCC House List Prices|
I think we can expect another full-out frenzy in the coming months – at least around those new lower-end listings that are within shouting range of the comps. You need an agent who can handle a bidding war – it is not a given!