Realtor.com reports active inventory continues to grow, up 30% from a year ago. This jump in supply gives today’s shoppers an extra home to consider for every three that were on the market this time last year.
Freddie Mac tells us: “Declines in purchase demand continue to diminish while supply remains fairly tight….The consequence is that house prices likely will continue to rise, but at a slower pace for the rest of the summer.”
Home price growth may be slowing, yet the National Association of Realtors reports 148 of 185 metros still saw double-digit annual price growth in the second quarter—that’s 80% of the markets, up from 70% in the first quarter.
What does this mean for you? Give me a call so we can go over it.
Mary Cockburn/505-639-2090/MaryCockburn.Realtor@gmail.com
