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The stats finally caught up! Year-over-year appreciation is a whomping 19% with a majority of that realized in 2024. BUT we aren’t quite at the peak of 2022…I anticipate appreciation to slow and prices to level out for the rest of the year, but time will tell. At 0.6 months supply of inventory, there simply aren’t enough homes for buyers and supply/demand is what drives prices. But, with prices increasing and no relief in interest rates, affordability is an issue that will slow many buyers.
