As I hinted yesterday. Any sign of a market slowing vanished this week. I did mention that things are tougher around now to predict as tax season usually mutes things. The next two weeks should give us more info and then May our strongest month most years.
New listings 1 (4) – this week was way down. The week before and during tax deadline usually are but this was really low
New Pendings of 8 (11) – strong week and with tax season past should only get stronger
Closed sales at 7 (5) –
Inventory at 5 with median of 1M. Last year it was 6 with median of 799K.
The market here has been very consistent all year. It showed a slight softness a couple weeks ago but Im gonna call that tax season related. The party typically starts now with more inventory coming in the face of peak demand.
I follow inventory flow around the country. Month over month inventory is growing in almost every city except here. Our new listing count is down the most in the country. I understand the macro-economic headwinds in the country and what this tells me is there is something else going on here. SD is currently and has been the biggest exception nationally
