The second half of May seemed to open up a bit. But, sorry, it was a false peak. Less inventory came on the market and more buyers went out looking for it. Inventory was down 6% from last month, and down 14% from last year inventory.
6718 homes went under contract, which was up 17% last month, and up 3% from last year.
Active listings dropped last month. In fact, there was a 20% drop and inventory fell below 2000 homes for sale the second time this year. Listings are spending and average of four days on market.
You have to be ready to pounce, offer 30K over asking, without any contingences and ready to close in 2 weeks.
26% higher close - higher end homes.
23% higher close -medium priced homes.
$700,000 average closed price detached.
We are nowhere near the peak. Same with rates. Rates turned up mid-month.
Inflation jumped 4.2% - the highest in 13 years. Core inflation jumped to 3%. This was the highest monthly gain - EVER. Get the rest of the insights by listening to this 9 minute episode. More false peaks are expected.
The Resiliency of Real Estate - It's not back to business as usual yet.
5 Tips for staying sharp, relevant, helpful.
Agents, are you taking this time to binge or build?
You cannot feel both gratitude and entitlement at the same time
Landlord Issues with Forbearance and Where Did All the Jumbos Go?
Preparing Agents to be Able to Respond to the Rebound
Help us keep new moms connected with their nurses through Nurse-Family Partnership
HomeAid Colorado - Building Solutions for Their Communities
FHFA is Gonna "Wait and See" if Servicers Need Liquidity.
What new home buyers need to do now so they can buy, rather than rent, plus Freddie & Fannie updates
How the Stimulus Package Affects Real Estate, and Equity Rich Zip-codes
Housing Was, Is and Will be Strong -DMAR April 2020
Helping SECORCares in April - Feeding, supporting, training for our neighbors to help them succeed.
FHA is NOT Dead; Forbearance is NOT Forgiveness
Coffee Talk - Recapping the Week in Real Estate 03212020
Your Questions Answered Forbearance, Rates, Fannie and Freddie
Pausing - State Trumps County and the Damien Cox Letter
3 Options to Increase Liquidity NOW
Homeownership - Getting Creative in This Time of Disruption.
How to switch from transactional solutions to individualized solutions.
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