Thanks for watching my video! I’m sure you’ve heard a
million times how crazy the market is! A recent report from Redfin, though,
shows a slight slowdown in the market as inventory has increased.
Redfin ranks 22 markets across the country by the
percentage of homes that went under contract in 14 days of their debut. In May,
32% of homes went under contract in two weeks. That’s a great number, but it’s
a drop from April by 1.2%. That’s the largest percentage drop since December of
2012.
Inventory has also increased. It rose 4.2% from April to
May and 6.4% from March to April. The increase in inventory indicates it may be
contributing to the market slow down.
So what does this mean? Homebuyers who are already in the
market are becoming more aggressive to buy a home. Interest rates have been
increasing to right below 5%. This is still a great rate, though! I always tell
people about my parents who bought their home in 1978 at an 18% interest rate!
5% is still an amazing rate!
So call me so we can get started on finding you your new
home!
