MIBOR just released numbers for July, and I havta’ ask, “Where are all the sellers at?”
You see, it just doesn’t make any sense…
#1 Sales are up- 14% from July last year.
#2 Inventory of houses available to buyers is limited- as in 17% less than a year ago.
#3 The average house is selling for $155,000— up 7% over a year ago.
#4 Mortgage rates are holding in the 3’s & 4’s- something unheard of the past 60 years.
So help me out here, what’s holding people back from wanting to put a For Sale sign in their front yard?