April Showers Bring May Flowers
The strongest time of year for the valley’s real estate market is typically our “spring buying season” – March through May. This year is no exception – but it could have been. We ended 2018 with a rather lackluster market due to anemic demand. Entering 2019 it looked like the market was heading towards a…
The Spring Market Awakens
After a slow and non-spectacular beginning to the year, the market appears to be finally waking up. March heralds the beginning of the spring buying season – so prognosticators watch closely for signs of market health. In the valley the supply side of the economic seesaw (supply & demand) has been fairly stable, if persistently…
2019 Market begins with a whimper
2019 began with an unremarkable start. Not surprising given that the last two weeks in December saw a large drop in listings under contract (a drop of 18.5% compared with the first two weeks of December – and down 10% for the month compared to December 2017). To quote Michael Orr of the Cromford Report “In every…
Sellers Still Retain Control
Happy New Year! We hope that you had a wonderful holiday season. 2018 closed with a bit of a whimper in the valley as buyer demand, after years of unflinching strength, finally wavered. Demand began to drop in July – rather precipitously by October – before settling in to a gentle landing to end the…
Supply and Demand Seesaw
The seesaw of supply and demand is our best barometer of the health of the housing market – so naturally we closely watch it. We have been in a seller’s market for such an extensive period that like most veteran agents, we are expecting a correction. A rebalance of the market we hope will come…
Is the Housing Market Losing its Steam?
Recently national housing statistics have made headlines regarding the diminishing demand of homebuyers. This is understandably unsettling to homeowners in the valley who recall all too well the housing crises where supply and demand went topsy turvey. As interesting as it may be to listen to national housing statistics, they are generally antidotal. Even in…
The Magic Triangle: Supply, Demand, and Price
Probably the hardest thing about routinely writing on the subject of the local real estate market is that it really doesn’t change overnight – thankfully – despite erroneous comparisons to the stock market. Short term trends in real estate are relatively predictable – largely because supply is not highly volatile. By contrast, demand has the…
Sellers Continue to Hang on to the Power
While some areas of the nation are at long last reporting a slowing of sales, the valley’s market is continuing to power forward both in rising sales and appreciation. Real estate has always been area specific, so while national trends are interesting, they are not particularly meaningful when interpreting a local market. New listings to…
Supply – a “Tale of Two Cities”
Supply continues to be the story in the valley (or lack thereof). But it really is a tale of two cities – if the cities were price points – the 200K range vs. all other price ranges. Single family homes under 200K seem to be the wooly mammoth quickly headed for extinction. Understandably entry level…
Welcome to 2018
We hope you all had a wonderful holiday season! Now that we are off to a fresh new year it makes sense to note where the market currently stands. Supply Undoubtedly our serial readers are already well aware that the 500K and under range has been in a “sellers” market for all of 2017. What…