- The market kept pace with prior years’ tax- incentive-fueled market! Year-to-date pending transactions are down 6% and year to date closed transactions are up 4%.
- Active Inventory decreased (13%) and March pending sales decreased (8%) leading to a decrease in months’ supply of inventory of 3.8. If months’ supply of inventory stays at this level then:
o Prices should tick up slightly (Distressed market at 25% will continue to put downward pressure on pricing).
o Properties in good condition at market price should receive multiple offers.