Increased Days on Market & Price Reductions

We are currently experiencing an increase in the current inventory of available homes for sale in many cities.

As well as a noticeable increase in price reductions of current active listings.

Which has further resulted in an increase of average days a home is active before going into escrow.

According to the stats, there are a number of homes also being reduced in price before entering into a contract and going into escrow.

With increased interest rates up to 6%, the sales price of qualified buyers has decreased, further decreasing the past competition of available buyers in the market.