yeah it's interesting how creative realtors word the market. With high rates, and buyers expecting 2022 and 2023 sale increases, good luck on slowing down inventory. Add to the mix once realtor fees start getting challenged by seller later in the year due to new court case. Fun times be coming!
Thanks Carlos. The buyers we are working with currently are not coming in with expectations of appreciation that we saw in 22 and 23. Most are just looking for flattening of pricing and rates…and buying for long term. Will keep providing stats and have the quarterly dive coming soon. Thanks again.
It is steady - steadily going in the wrong direction. DOM jumped 25.6% in April of 24 vs. April of 23 (69 days to 87 days), housing supply jumped 7.7% in the same period. And as Casey points out each week, inventory is building at twice the rate it is depleting. Overall rental demand is significantly suppressed versus prior years. Rapidly rising insurance costs are complicating closings. Rates are going up, not down. Will be interesting to follow.
Rental is certainly a metric we have to track in our market just like pricing as it can influence a decent segment. I will be bringing more on this. Appreciate the comment
yeah it's interesting how creative realtors word the market. With high rates, and buyers expecting 2022 and 2023 sale increases, good luck on slowing down inventory. Add to the mix once realtor fees start getting challenged by seller later in the year due to new court case. Fun times be coming!
Thanks Carlos. The buyers we are working with currently are not coming in with expectations of appreciation that we saw in 22 and 23. Most are just looking for flattening of pricing and rates…and buying for long term. Will keep providing stats and have the quarterly dive coming soon. Thanks again.
It is steady - steadily going in the wrong direction. DOM jumped 25.6% in April of 24 vs. April of 23 (69 days to 87 days), housing supply jumped 7.7% in the same period. And as Casey points out each week, inventory is building at twice the rate it is depleting. Overall rental demand is significantly suppressed versus prior years. Rapidly rising insurance costs are complicating closings. Rates are going up, not down. Will be interesting to follow.
Rental is certainly a metric we have to track in our market just like pricing as it can influence a decent segment. I will be bringing more on this. Appreciate the comment