Market Trends

THE REAL ESTATE MARKET TRENDS IN REAL TIME!

2/6/2023

This Week from Mike Simonson, Altos Research.

Americans are buying houses this winter. Each week inventory is falling and pendings are climbing. The market has fewer price reductions and more immediate sales each week. None of this is crazy hot like last year, but the data is pretty irrefutable.

Available inventory of single family homes on the market declined by another 1.8% this week to 457,000. It’s not totally unheard of for inventory this early in the year to creep down for a few weeks. This year’s change is notable because inventory was rising so unusually fast in September and October.

On the demand side, pending volume is way up over December and climbing rapidly. There are now 279,000 single family homes in contract, up 6% over last week. And price reductions are down to just 33% of the market now.

 

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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.

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For all of your real estate needs, we can be reached at 877-522-7726 or by email: Team@barsaminc.com