Valley Market Real Estate
The inventory took a significant jump this week to 295. That is still well under where it was last year at this time which was 359 and way under 2019 which saw 719 houses on the market. We are selling fewer houses than we did in 2019 also.
So there is a serious disruption in the market and this will be the case I think for some time. It may be the new normal…who knows.
The crazy thing is though, people still need to live somewhere. It appears that Millennials are not purchasing homes at the rate previous generations did. There are a lot of different reasons put forward for this, but the bottom line is that it is true.
Also, home owners are not selling as often as they did previously. Most homeowners currently have interest rates in the low 3% range and they don’t want to give that up. So most of the houses that are on the market are being sold by people that NEED to sell for some reason.
If you need to sell, or buy….see below.
Call us if you want to sell or buy a house. Just go to our contact page here:https://valleymarket.com/meet-the-val
See All our listings here: ..https://valleymarket.com/featured-val
PS I mentioned a link to sign up for the market memo…here: https://vid.us/g13q9h
This representation is based in whole or in part on data supplied by, and to, the subscribers of Alaska Multiple Listing Service, Inc. (AK MLS, Inc.). AK MLS, Inc. does not guarantee nor is it in any way responsible for its accuracy. Data maintained by AK MLS, Inc. is for its own use and may not reflect all real estate activity in the market.
