May numbers are out! No surprise here: it’s still a strong seller’s market. May ended with 1.5 months of inventory–below 3 months is a seller’s market. Last year, the market eased a bit in the April/May timeframe, not this year.
Interest rates have ticked-up, which means buyers have slightly less buying power (if rates go up a point, your buying power lowers by 10%). It will be interesting to see if the rate increase stimulates more activity or causes buyers to tap the breaks. Either way it’s a great time to buy (interest rates are still very low) and/or sell—you just need a pro to help you!
Click here for the stat graphs: http://sanditampa.com/eastside-market-stats/