Inventories are down from the beginning of the year.

by | Feb 1, 2023 | Market Conditions

Fewer new properties have come on the market, which is unusual for January. There have been more sale pending/contingent sales which accounts for the decrease in inventory levels. Mortgage rates are holding steady at the 5.5% range for 30 years, and 5% for a 15 year loan. The lack of activity can be attributed to extremely cold weather and uncertainty in the economic world.