The statistics are a comparison of August 2020 and August 2021.
The chart below indicates:
Home sales are down 11% from last year at this time.
The average sold price for single family homes INCREASED 14%. Thus creating more equity for home owners!!
The average days on market DECREASED 13 Days.
The amount of available inventory had DECREASED buy 1 week.
The housing market is still a SELLERS market. The 14% increase on the average home price. Inventory still very low at 3 weeks. This indicates there is still not enough inventory for buyers.
But as it sits, the market is still cooling at a very slow rate.
Interest Rates are still low and holding.
This is great for buyers. It is often better to buy when rates are low NOT when house house prices are low.
**** I can explain how buying when rates are low is beneficial when compared to buying when house prices are low. CALL ME! ****
Low mortgage rates are still a buyer's secret weapon to secure affordable housing.
If you are looking to BUY or SELL?
We definitely need to talk, ASAP!!!
If you are looking for guidance with buying or selling a home. Look no further than aligning yourself with people who conduct themselves with the highest of Integrity and Character.
We are your trusted advisors and your reliable resource.
Broker Associate / Realtor
Stay Gold Group of HomeSmart