The drop off in new listings is astounding here. Half of what we had 2 years ago! The drop in pendings is even more astounding!
I take a few things away from that.
There is much less coming on the market this year. Sellers are digging in and not moving around. The market is mostly estates and people leaving the area. The move up/move down/move around town market is anemic this year.
The lack of new inventory is limiting sales. Pendings are much lower and its gotta be putting a big hurt on a lot of agents around here. The ranks will continue to thin out
Prices are holding up pretty well because of low inventory. If there was a flood we’d be in trouble.
I dont expect a flood but we should get a fair amount more. That should put pressure on prices again in Fall up here. Guess we’ll have to watch and wait to see what happens
