Hello everyone, I hope you’re all doing well! It’s a new month, and that means that new information has come into the market. Based on the information that’s been gathered, things are looking up!
The Sales and Price Report from January indicates that not only are Mortgage payments up from last year, but the median home price has declined to the lowest it’s been since March of last year. Sales have had the smallest drop they had in six months, and the median time on the market remains below pre-pandemic levels.
On the other hand, the February housing sentiment index indicates that people are shying away from the market. While many people are interested in selling their homes, not many people are interested in buying – nor do they believe it’s a good time to buy a home in the first place. While the market is in good condition, people are hesitant to engage in the market.
If you’re worried about the housing market or have any questions about it, let me know and I can walk you through it!