Not much changed this week. And that’s a good thing!
Just 20… We have about 20 more condos and 20 more houses for sale this week than we did last week. The number of condos and houses that went pending was almost identical to last week. When we start to compare year-over-year, that is where it gets interesting. We still have a LOT more inventory than we did last year, but the gap is narrowing. For almost 9 months, we had double or more the inventory this year when we compared it the same time last year. We are also starting to see the gap shrink year over year for number of pending homes as well.
The data is showing that we seem to have hit our new stride. We had a quick, sharp and unexpected market correction last year. And it seems like we are finally settled into our new normal. For now :).