Resale Homes in Trouble?

HELP!

I provide these monthly updates, not only to keep Buyers and Sellers informed, but also because the housing market trends closely to the economy, the stock market, and employment. Today though, I’m asking for your feedback to help make these reports more valuable to you.  So, please ……

RESALES:

The downward “slide” for Resales is evident, and getting “scary”. For Sellers, Sales Price and Price Per Square Foot are the most important stats.  Unfortunately, both are trending significantly downward.  More concerning?  The Months of Supply now exceeds 6-months.  This will put further pressure on both Price and Days On Market. Hopefully, the approaching best months of the year will be the cure.

NEW HOMES:

Well, the New Homes were in stark contrast to the Resales!  Sales Prices held steady, the Average Price Per Square Foot increased, the number of homes Sold reached an ALL-TIME HIGH and the Months of Supply plummeted. This PROVES Buyers are buying NEW HOMES at the expense of Resales.

WHEN TO BUY AND SELL?

This has been a very volatile market for the last couple of years. Sales velocity, Days on Market and Home Prices vary almost on a month-to-month basis. And, the Election results will have a significant impact too. In short, lots of changes to the market. So, if you would like a FREE market analysis to see what your home is worth, just reach out to us. We’d be pleased to help you. We’ll also provide insight about when is the best time FOR YOU to buy or sell.