For many buyers, 2022 marks a new opportunity to make their home purchase dreams a reality. But it won’t be without its challenges. Inventory of existing homes was at 910,000 at the start of the new year, the lowest level … Continue reading →

The number of homes for sale was down compared to this time last year. Inventory levels market-wide decreased 28.3 percent to 4,193 units.

Months’ supply of inventory was down 21.4 percent since last year at 1.1 months. That’s well below the 5 months that’s considered balanced. Percent of List Price Received at Sale remained at 100.7 percent since last year.

Months’ supply of inventory was down 23.5 percent to 1.3 months. A balanced market is about 5-6 months of supply. 1.3 months of supply indicates a pretty extreme sellers’ market.

There are some signs of a potential market shift, even though both new and active listings are down compared to last year and sales are up compared to 2019.