Prices Up-Sales Down?
How does that work?? With the limited inventory in most markets, pressure is put on price by Buyers. We continue to see & experience multiple offers at many price points, not just at the lower end of the market. It only takes 2 to go multiple!
If there's so much interest why aren't sales up you may ask but we cannot sell what isn't for sale. It's partly the cycle of Buyers won't sell if they can't find something to buy combined with homeowners sitting on very low mortgage rates who cannot afford the increased costs of a new mortgage if they're moving up the housing ladder.
What's next? More of the same until inventory increases or the number of Buyers declines.
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