Prices are up 20% over a year ago and appear to be accelerating, with the average home now selling for an even 300k. (Call me if you want to sell this summer, it’s still looking good!)
Closings were up 9% from May but down 6% from a year ago. (Not sure how to figure that one out!)
The BIG news may have been New Listings increased 16% from the previous month and 11% from a year ago. (That’s WELCOME NEWS for HOME BUYERS.)
Active inventory is now up a whopping 64% over last year this time!
Housing data released by the MIBOR BLC® comparing May 2021 to May 2022 shows:
Despite the rise in prices, Buyers remain eager to purchase homes. Inventory is better (though still tight) and decreasing days on market make this an extremely competitive market. Make sure you have a trusted advisor by your side.
Housing
data released by the MIBOR BLC® comparing April 2021 to April 2022 shows:
This data is proof that although inventory is still low, demand remains high. In this market, things are moving quickly, and Buyers and Sellers need an Experienced Agent to guide them through these times. Unfortunately, You don’t know what you don’t know. Don’t be fooled by a “fast talker.”
EXPERIENCE DOES MATTER.
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