Sales in January continued at a very strong pace, up 8% over last January and pacing the year-over-year totals up 8% as well. (Those are strong, healthy numbers, btw.) On the other end however, new listings continued to lag far behind, down 9% from last January. This unlikely combination of forces (surging sales and lagging listings) just doesn’t make much sense. I mean, if sales are growing AND prices are rising (up 8% over a year ago) then one would think more homeowners would be putting For Sale signs in their front yards. But not! The inventory of houses available to buyers is at 3.8 months; which is darn low. All of that is good news for homeowners wanting to sell their houses.
If you’d like to see what houses are selling for in your neck of the woods, just ask! Talk soon, Bob
“I work harder to make good things happen!!”