Please find our stats for the month of January attached. The numbers are very interesting as they tell a story of a market coming into a more balanced territory. Inventory levels are up, however, inventory levels last January 2017 were at a RECORD low. Today’s inventory of homes for sale can still be considered low with only three months of inventory. Economists will tell you the market shift to a buyer’s market comes closer to five months of inventory.
Prices are adjusting to last years unhealthy highs that occurred early in 2017. This will continue to make great media headlines over the next few months as prices come more inline to where they should have been.
Please let me know if you have any questions.
Karen
