OK so I'm looking at the July statistics and I pulled up the June statistics for comparison, KNOWING that there would be significant changes in things like sold-to-list ratios (How much people are getting for their homes versus asking price) and also DOM (stands for days on market)
Well I had to rub my eyes because the numbers were virtually unchanged! At first I thought I had pulled the same report twice! I had expected to see both an increase in DOM and a lower price-to-sell ratio. The DOM was 97 for both months. One year ago it was 71, so there has been some slowing of our market. The p2s ratio was 97.83% for June and July was 97.93%, again unchanged. What this means is that for the average 100,000 home, in July the sellers got 97,930.
So DON'T WATCH THE NEWS! The Huntsville and North Alabama real estate market is one of the strongest real estate markets in the country. I do expect to see some more slowing down in the fall until the election, but we got it pretty good here!
As a side note: A down economy is a perfect time to TRADE UP. We aren't currently at that point though.
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