Now That's a Recovery!

Wow the local real estate market has come roaring back! One look at the current stats that came out last week shows the market is back to the same supply and demand levels of 2006. Below are the comparisons of the market trend from 2006, which was the busiest time with little supply and high demand, and the current stats.

I see the demand staying high because of the amount of people that have put off buying when the market was so uncertain. The supply will be challenged by the demand because back in 2006 there was lots of new construction vs now when builders are just starting to build again. Notice the new listings which is the blue line on the graph. The supply of listings is also down tightening the market that much more. Conclusion is we need inventory and if you are planning on moving in the near future you might want to think about selling now when demand is high and supply is tight. Call me if you want to more specific details on your home.

Check out the market trends below and let me know if you have any questions or concerns.