The affordable home market is softer now that two years of stimulus targeted at first-time buyers has passed. The number of listings for affordable homes has increased from last year, while the sales pace has decreased.
This chart shows the inventory for homes priced under $275,000 is significantly higher than levels from a year ago...
...while affordable home sales have decreased.
In our always changing market, many first-time buyers are receiving more home for the money than they were when the $8,000 tax credit was in play. Many move-up buyers are learning they need to lower their price before they can sell their existing home to buy another.
For more on how the market varies by price range, check out our inventory by price range report at DaneCountyMarket.com.
Dan Miller, Keller Williams Realty and www.DaneCountyMarket.com
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