We had a good, yet somber office meeting this morning (I posted the reason for the mood in my previous post). We followed that up with a short office caravan through the new listings that our office has taken over the past week. One thing that definately stood out was that number of new listings. Normally, we have a dozen or so new listings to preview, this week we had 4.
We have one of the if not the top listing office in our area, so I checked the MLS and it isn't just us, it is going on to all of the offices in our area. Is this a sign that things are normalizing? Is it a good sign? or is it a bad sign? I am not sure. We have a lot of inventory that is still out there so maybe it is a good thing that we aren't taking dozens of listings each week. It may also mean that more people are not in a position where they have to sell. Both of these would be good reasons.
I hope it is isn't that those that have to sell have given up hope! That they just believe that it is better to just leave to the mortgage holder and walk away and those haven't quite gone to foreclosure and hit the market.
I am really optimistic that things may be normalizing, and that we can begin to sell down our inventory and go back to a healthy market! What ever the reason is, the fact remains that by next week it may all be different, there may be several new listings next week, and this may be the calm prior to the storm. One thing about real estate, it is seldom boring! Make it a great week!
If you're looking to buy or sell real estate in Cedar City, Utah; give us a call. We would love to earn your business!
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