Here is what has happened over the past 48 hours:
441 Properties came on the market
664 Properties went under contract and are sale pending
We started the weekend with 5,648 properties available for sale and have 5,663 this morning. NOTE: We usually start Monday with less on market than what is available on Friday.
No need to panic, the housing market IS NOT imploding. At the current rate of demand we’d need 55,000 properties on the market Active and ready to buy which would put us in a normal market.
In a normal market, which is 5-6 months of inventory, housing prices still appreciate 4-6% on average per year.