Yes, yes prices are down 17% year-over-year. Remember, this is OLD news, as the price correction occurred between April and August of last year. This year, prices are up 7% since January (9% since December, but December is always a wonky month). I’ve mentioned that it feels like a ‘normal’ (pre-pandemic) year. If that is the case, I would expect prices to level off soon, but with such low inventory, I’m not sure. I’m wondering (hoping, really) if inventory will have a post-Spring Break surge. This year all the Eastside and surrounding public schools had their Spring Break the same week (the week of April 10th)—a rarity. Sellers typically avoid listing just before or during Spring Break. As always, time will tell.
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Market Advice • April 14, 2023
April 2023 Eastside Stats Update
by Sandi Tampa
Economy The Impact of Inflation on Mortgage Rates If you’re reading headlines about inflation or mortgage rates, you may see something about the recent decision from the Federal Reserve (the Fed). But what does it mean for you, the housing market, and your plans to buy a home? Here’s what you need to know. Inflation and the Housing Market While the Fed’s working hard […]
Market Advice The Best Time To Sell Your House Is When Others Aren’t Selling If you’re thinking about selling your house, you should know the number of homes for sale right now is low. That’s because, this season, there are fewer sellers listing their houses for sale than the norm. Looking back at every April since 2017, the only year when fewer sellers listed their homes was in April […]
Market Advice Eastside Stats – May 2023 Pricing has been a roller coaster, to say the least. The Eastside is down 16% year-over-year, but up 10% since January. Before prices started to drop/correct they rose a whopping, clearly unsustainable, 31% in 7 months, from September 2021 to April 2022. Then, from April 2022 to August 2022, prices dropped/corrected 22% over […]