Change is the only constant, and the world of real estate is no exception. From rising interest rates to an increased housing inventory, there’s been a significant shift in market indicators year-over-year. But before we start diving into the numbers, let’s remember: change is not synonymous with doom and gloom. Sometimes, change is just…change.
Comparing the national figures from May 2022 to May 2023, we’ve seen some notable shifts:
Yes, these shifts might not seem overly exciting compared to the post-pandemic high. But it’s crucial to remember, the market ebbs and flows in phases.
Zooming into the local scene, we have:
Remember, more inventory is a good thing. In the frenzied climate of low interest rates and minimal inventory, getting an offer accepted was an uphill battle. Today’s market is much more under control.
So, what does all this mean for us and for you? Here are the key points:
In an era of constant disruption, particularly with the rise of artificial intelligence, we’re learning to live with uncertainty. From here forward, EVERYTHING is subject to be disrupted. If you decide that now is the time for you, we at Williams Luxury Homes stand ready to help you buy real estate.
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