New and pending listings continue to be ahead of last year at this time, and coming soon listings are holding steady.
Property showings are right on track with last year.
Overall, stats are pretty lackluster… staying the course, with price changes and pending sales increasing slightly.
What isn’t staying the course is condo sales. Months supply of inventory is showing that this is the market segment where buyers aren’t keeping up with supply… which means the market is favorable for condo buyers, with a bigger supply and less competition!
Affordability is improving in all sectors… see the top three reasons why in the infographic below from our blog at Keeping Current Matters.
Sharlene Hensrud, RE/MAX Results – shensrud@homesmsp.com
Some Highlights
- Affordability is based on three key factors: mortgage rates, home prices, and wages.
- And today, it’s improving quickly as rates come down, prices level off, and wages climb.
- If you put your search on pause because it was too expensive to buy, let’s talk about why now may be the perfect time to jump back in.
