Housing inventory is holding strong! We continue to have record numbers of new listings since the start of the pandemic. It’s time to start paying attention to how long it’ll take for a listing to accept an offer and if the sold homes will continue to close at over asking price. Windermere’s economist, Matthew Gardner, said this week that it would take interest rates going over 7% (which is highly unlikely) to slow buyers' demand enough for pricing to start going in a direction we have not seen in more than a decade.
Those of you thinking you are going to wait for pricing to go down… it’s not going to happen friends.