When we agents log into the MLS (Multiple Listing Service), we’re presented with some key market stats. The first one shows how many homes have been listed in the past 24 hours. When I logged this morning, there were seven. Yesterday, though, there were over 800. Today’s total inventory is 14,244, so over 6% of the listed homes for sale were listed in one day.
So, great news for our home buyers struggling to get an offer accepted: looks like the summer sales season has started. This burst of inventory should really help things stabilize.
For people interested in selling their homes, expect the price increases to calm. I expect that we’re near the highest point we’ll reach in awhile. If you’re waiting for THE peak…well, that’s a dangerous game. You only know where the peak WAS; retrospectively.
Anyway, I’m expecting those discouraged buyers will be heartened and get back into the work of home searching. Great news!
Hard to see the future well enough to game the system. But the signs point to good things.
