Market Trends

THE REAL ESTATE MARKET TRENDS IN REAL TIME!

June 6th, 2022

Last week was Memorial Day holiday in the US, and as usual, the housing market did a little pause. Inventory grew at a slower rate, and prices hit their summer plateau.

The big trend we're watching right now is price reductions: how many homes have had to cut their asking price before they get the offers they need.

This week, price reductions climbed to 24.1%, which is the highest level of 2022. As always with price reductions, it’s important to keep this number in perspective. We normally see about 35% of homes take a price cut before they sell. Right now, we’re only at 24% - still fewer than usual.

That being said, I anticipate we'll be back to a more normal 30% range by next month. This will feel slow to sellers who weren't properly prepared by their real estate agent.

Mike Simonson

CEO, Altos Research

KEEPING OUR CLIENTS INFOMRED

We work hard to keep our clients informed about the market while they’re buying or selling their home. These weekly reports use real-time data so our clients can make decisions based on what’s happening in the market right now and how the market is changing week by week.

A few questions these reports can help you answer:

 

Is now a good time to buy or sell?

Check the “Market Action Index” to see if the market is heating up or cooling down.

 

How’s the market in my price range?

Click into the “Market Segments” charts to see the how the market is behaving in different price ranges.

 

What can I get in my price range, and where should I look?

Use the “Median List Price” charts to see what you can buy in your price range, and search by zip code to compare different neighborhoods.

Feel free to share this report with your friends and family, and please let us know if you have any questions about the market or if we can help you in any way.

 

We can be reached at 877-522-7726 or by email: Team@barsaminc.com

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