But when it comes to the real estate market these days, it seems that’s not exactly a positive. Depends on who you ask.
Less Homes for Sale = More High Prices
Though inventory is always relatively low this time of year, this year the lack of inventory and hungry buyers have kept prices elevated. While those dramatic price increases have slowed for now, we expect prices will continue to rise through 2022. How much, and how quickly, remains to be seen.
More = Good
In terms of days on market, we’re encouraged by the upward trend. < 10 days on market (DOM) is a blistering pace.
More = Better
Buyers, don’t be discouraged by that steep downturn below. There will be more inventory soon. We predict listings getting “back to normal” in Q1 and a very busy winter market after this holiday season.