Real Estate sales activity continues to show improved activity for Clark County Washington in May 2023
For the Spring season months we've continued to see improvement in the key metrics (elements we measure and track) for the local real estate market I serve. The graphic below is produced by RMLS to help us provide this snapshot:
Although most of these key metrics are stronger than last month, we do note that Pending Sales are actually a few units lower than last month (601 in May vs 607 in April); while New Listings increased substantially, which allows the Active Inventory to increase modestly.
A larger number of Active Listings, in my opinion, is something our market truly needs. When home buyers have more choices, they have the opportunity to make better decisions. We also expect more buyers to return to the market when there are more choices; combined with fewer battles (multiple offers) between buyers for a much-too-small inventory of homes.
A higher level of Inventory will also lure more existing home owners to Re-Size (down-size; up-size, etc.) their home ownership, as they'll have a better chance to find a new home; and not end up selling their current home with no certain place to land!
We trust you've found this information useful in your understanding of the real estate market in Clark County Washington. Please contact if you have interest in selling your home (or, condo); or, buying a home in this area.
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