Back in mid-June, I asked:
Are the current sales “pulling forward” future sales that may have occurred in the summer?
With strong sales during the past week – the answer would be “No”. With a mid-month sales projection of 750 (up 23% from last year), we’ll likely end off with about 5 months of inventory at the end of August. This keeps us firmly on the edge of a sellers’ market.
Active listings are projected to be about 15% less than the same month last year, meaning that with ongoing strong sales – there is not a wide selection to choose from. Where have all the good houses gone?!
[BTW: Thanks for keeping the blog comments going while I was away in Alaska. If anyone is interested in writing a future blog post, please let me know via the contact page.]