The Tale of Two Markets – Is it a Buyers Market or a Sellers Market?
- An emerging trend for some time now has been the difference between available inventory and demand in the premium and luxury markets and that in the starter and trade-up markets and what those differences are doing to prices!
- Inventory continues to rise in the luxury and premium home markets which is causing prices to cool.
- Demand continues to rise with lower-than-normal inventory levels in the starter and trade-up home markets, causing prices to rise on a year-over-year basis for 80 consecutive months. Our area still is showing signs of tight inventory as we move into our busy season. Homes that are priced right or in tip-top, move-in-ready condition are selling fast. Home owners testing the market with higher prices or putting homes on the market that need work are not seeing fast sales.