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The February real estate data shows a decrease in inventory because sales were strong in January compared to new listings hitting the market. Mid-January rates hit 5.9% briefly (the lowest they’ve been in a few months) creating an uptick in buyer demand. New listings have been low the last couple of months which has led to multiple offer situations for some properties and some areas that are in higher demand. With the collapse of Silicon Valley Bank, rates have recently dropped again after ratcheting up to over 7% in early March to around 6.5%. A small reprieve in rates as we head into the spring should bring more activity with both buyers and sellers. We expect a strong spring market!
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By digitally signing this form you are providing with your express written consent to send you business and marketing communications via text messages (SMS), email, and by calls or prerecorded messages dialed by a natural person or by an automatic or automated telephone dialing system. This express written consent applies to each such email address or telephone number that you provide to us now or in the future and permits such communications regardless of their purpose, unless you opt out of SMS marketing communication when submitting this form. Consent not required to register. Message frequency varies, message and data rates may apply. Text STOP to cancel, call for help.