Just in time for the long weekend, Stats.
As you can see, the market is looking up. All in all there has been lots of activity. Busy open houses, and lots of buyers taking advantage of the record low interest rates. The spring like conditions are also bringing more would be sellers to market. New listings increased by 31% form the week before, while sales increased 16%.
Pending deals however slowed down. We'll be keeping close eye on that. Pending deals are how we measure new purchase contracts written. If the change weekly is a decline in deals written that may pose a problem for sellers in the future, hopefully it is a sort term blip and we see a return this week. Not the end of the world as there was a net decrease in inventory when looking at the big picture.
Long weekends tend to be quiet in real estate but always enjoyable despite the threat of snow. If your not camping and thinking "I have extra time to be looking" we can help. There is a sizable amount of inventory out there to navigate thru and the best way to filter out the homes that don't meet your expectations is by speaking with your REALTOR®
Your Friend in Real Estate,