By: Brandon Arling 3/8/23
Real estate markets everywhere have seen a slowing trend. Overall, a reduction in new listings has led to a reduction in home purchases and closings. Many variables have contributed to this, but certainly we can note the heavy increase in home mortgage rates a primary driver. Interesting to note, while trends have slowed, when setting a home asking price, sellers are getting more than what they were in February of 2022. For most, the market has reduced overall affordability, but for those that still have buying power, strong and fast offers remains the norm.