Last Sunday's Super Bowl was not only a great game (Go Rihanna!), but it also signaled the unofficial start to our spring selling season. The pre-pandemic historical trend saw new listings increase following "the big game." This year seems to be following that typical pattern, which has also been delayed by the rain in late December and January.
We'll highlight some of the economic factors that we think will lead to a robust spring market. While we're still waiting on home sales numbers at the end of this month to support what we're hearing, we'll share some anecdotal information from our local market that seems very different than the activity in Fall of 2022. Open houses have been busier than the fall as more buyers are back in the market. Reports of multiple offers are increasing at price points under $4M. We believe this activity will continue.
Let us know if you have questions about activity in your area.
Lots of ❤️ 💕❤️ from
February 2023 Market Update
Rates have fallen below their Nov 2022 peak of 7.0%. Lenders are reporting an increase in new mortgage applications since the start of the year. There are options besides a 30-year fixed rate that offer buyers a rate of 4%.
The equities market has seen numbers climb since the beginning of the year. This always increases buyer confidence in our area.
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