Market Update – Spring 2020

With so much uncertainty this spring, many considered what might happen in the housing market. Our latest statistics are showing that the market is still strong with low inventory creating a seller’s market. Comparing May 2019 and May 2020, we have about a 24.5% decrease in new listings, which is also driving pending sales down by 22.8%. Because of that shortage prices are up 3.5%.

May Stats

This data supports what Team Lucky Duck is experiencing. We are seeing listings sell very fast and many receiving multiple offers. Our buyers are feeling this competitive market as well but with our expertise in winning in multiple offers and historically low interest rates, it is a great time to buy! We have had several clients take advantage of the interest rates that have made it possible for them to move into their next house sooner than they thought they would be able to. If you’d like to see if that would be an option for you, please reach out to us for more details.

Purhcasing Power

 

Source: MPLSrealtor.com

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s