We are approaching an interesting time of year where the inventory coincides with our REALTOR membership and the sales approach the number of Real Estate offices it serves. From the outside looking in many may see this as a detriment, however, know that our season was quite successful with both Sellers and Associates alike. Buyers are and will continue to capture great values despite the overall uptick in prices. Yesterday's news that home values have risen by 12% on average nationally bodes well for our continued recovery.
The concern here is the Year over Year figures for May. The Sales remain strong, dropping only 3.34% while the inventory has declined substantially by 25%. This trend will not fair well when extrapolated into June's numbers. When doing so we see a listing inventory down to 5,107 and sales at a new low of 565. Referencing the previous paragraph our members total 5,579 within 626 offices. What cycle does your market follow?
"Nature never makes any blunders; when she makes a fool, she means it." ~ Josh Billings
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