Market talk and statistics do not lie. See below the MLS stats for November.
Highlights includes; 1) new listings down, a trend that continues; 2) sales remain strong; 3) average days on the market is now 37 days; and months supply of inventory is really low. Only 1.8 homes per buyer, in other words we’d run out of inventory is 1.8 months.
It adds up to a continuation of a Seller’s market. One catch, with interest rates rising now above 4%, what effect might this have the future market in 2017. That’s something we’ll know in a few months time.