Spring is here and the market is HOT. Prices are up, inventory is low and sales have managed to stay high as we close out the winter season. In fact some metropolitan areas are seeing the highest median home price in the report’s 13 year history. Spring tends to host higher sales prices than winter and this year is shaping up to carry on that trend.
- Inventory has declined 20 of the last 21 months.
- Of 53 metro areas surveyed, prices are up 5.7% compared to February of last year.
- Days on Market is averaging 42 (of 53 Metro areas surveyed) which is down 18 days from February 2020.
Spring has brought with it a complicated and competitive market. With interest rates remaining low and inventory flying off the shelves!