Here we are nearing the end of the 2nd quarter and our sales SUCK! That's a Realtor term. We cannot get any lift off for this season. Sure we're in the midst of a super hot, multiple offer market with all price points feeling the squeeze and getting the action. BUT--sales are declining. Our once vaunted double digit increases to our median home price are now in the 7% range. And that's with tremendous activity in the $1,000,000+ range. Here's a "10 Years Later" graph which shows how our inventory has diminished.
A very big decline. Here's a 2 year look at Sales. Numbers over the columns are sales that month.
This is just two years back. Last year was the first year we didn't break 500 sales in one month. Are we headed there now? Are sales going to be weak through the most historically feverish months? Check out this slide on "Under Contracts" --Encouraging.
Note the Under Contracts and the steady rise. This is the ghost of sales to come! I want to see MORE inventory to bring more choice, abate the fever.