We should see inventories increase.

by | Sep 1, 2023 | Forecast

This is seasonal activity, plus buyers with homes to sell are comfortable putting their home on the market while they look for a new house. This is a change from the standard over the past few years. We are approaching a normal market. Days on the market to sell is a healthy 35 days. Price changes are up and probably reflecting seller awareness of reality, which is there is no premium in the market with asking prices. Houses for sale will need to be spot-on evaluations and must be in pristine condition for maximizing the dollar amount. Mortgage rates have settled in under 7% for a 30-year mortgage and should stay in that range unless the Federal Reserve raises rates again.