Spring Blooms

Our great weather has plants and trees’ blooming like it is spring and according to HousingTracker inventory is growing like we are in the middle of the spring selling season. For the week ending March 19, inventory was 13,773, up 313 available homes from the week before and up 4.5 percent in the past month. Increases in inventory are historically traditional as we move into the spring selling season. The level of inventory is higher than it was last year at this time and I attribute that to the nice weather compared to last year when we weren’t sure it would ever stop raining. As we don’t follow the pattern of 2006 where we reached record levels of homes on the market in August when we had over 18,000 homes on the market I think we will see some stabilization in prices. HousingTracker reported a slight tic down in the median asking price from $400,000 where it has been for the past four weeks to $399,000.

The great weather of the past few weeks had brought the buyers out. Houses are being shown, open houses are getting traffic and offers are being made. Now we need to see some of these contracts close!