Aggregate numbers in real estate are best at showing large-scale trends, and that’s why I like this snapshot summary of some home sale indicators. The impact of the mortgage interest rate fluctuation a few months ago did indeed take the edge off the bidding wars that had become the norm in the past two years. Prices are rising, but at a far lesser pace. Inventory is gaining a bit of traction- even though there are still far fewer properties for sale than in past. Days on market have ticked up just a bit so buyers can take a breath before having to write an offer.
As long as rates don’t squeeze the life out of the market, the new dynamics are favorable to the home selling process.
Home Economics 