What would a frenzy of inventory look like? There has only been a 15% year-over-year increase in the number of homes for sale in 2024, which isn't that noticeable, especially to the casual observer. Plus, the top-quality homes still get swept off the market quickly,...
I thought the run-up to the election would cause potential home sellers to wait it out. Wouldn't it make sense to NOT list your home in the month or two before the most contentous election in history? Certainly home sellers would have foresight and believe that buyers...
The number of pendings is catching up with last year's counts, and, with this being the end of October, there should be another 20+ that close escrow this week. The pendings' count is going to get down to around 100 in the next couple of weeks, which probably means...
There are several reasons why I think the local inventory will surge in 2025. It will be due to several causes contributing more houses for sale, and all combined it may look like a flood in some areas. Been Trending That Way in 2024 - The inventory this year has been...
It would be natural to expect the number of active listings to be declining by now, but sellers are still hopeful. Of the 470 actives, there are 113 of them that have been on the market for 90+ days too (24%). Those don't have much chance of selling this year without...
You could say that the market has extended some of the summer momentum - the counts above are similar to what they were in June! How can that be explained? Anyone who is spending five-figures every month on their business is paying attention to every detail. Don't...
Even though there were 28 sales closed in the last week, the pendings count went UP! There are still deals happening this close to Election Day. Here's how the active listings compare to the same week last year: Fairly similar numbers to those in October, 2023! But...
The number of pendings should drop off after today (the last day of the month has the most closings). The Under-$1,500,000 should be where the action is the hottest, but for the last three weeks, there have been 30+ actives listings in that category. It's the first...
Statistics are quirky - there are always things that happen that defy explanation. Look at the uptick in inventory in today's reading, and note that the same thing happened last year! The number of pending listings has been riding above last year's pendings count,...
There is more talk about the Fed cutting a half-point on Wednesday. If they only drop 1/4%, mortgage rates will probably rise because at least that much is already priced in today. It won't mean much for the long-time active listings unless they lower their price. Of...
