Sometimes the snapshot tells the story of residential real estate perfectly… and this is one of those times.
Inventory is up as it usually is at this time of the year. The summer selling season is “a thing” and what we’ve seen this year is that it has started later, but it is picking up. Every metric you look at for inventory is up. Active listings, new listings, months supply, etc. Inventory is coming online, which is a good thing for residential real estate.
While inventory is on the rise (and we need it), we’re still way off on sold properties. Not because of buyer demand, but because of available homes to buy.
So it seems like we could be having a strong second half of the summer as inventory starts to rise and buyers are in the space. We will pay attention to how the inventory gets gobbled up by the buyer population of today.