It’s a Seller’s Market….Still!
While interest rates have continued to rise, home prices seem to be leveling off, but the seller’s market continues! And while homes are selling slower than they have in the past two years, they are still averaging 30 to 45 days on market when priced appropriately. This spells ‘Seller’s Market’.
We are faced with a housing shortage, building materials are high, land is high, and in many places around the state the infrastructure is not readily available for servicing new homes. This is keeping existing home prices high as the demand from buyers continues to be strong. Check out the following graphics for some information showing market trends as of May 2023.