There are several indications that there is slight movement in the “regular” market.
There were 19 new listings in the Zip Code in the past week, and 31 went into Pending.
Even before a more detailed analysis, this is good news!
Three homes in Hidden Meadows went into Pending – a good week in ANY MARKET!
Only one home in Hidden Meadows closed escrow (at $310,000), but homes closing escrow reflects market activity many weeks ago.
My sale of one of my listings in the past two weeks with two offers, after more than 18 months with no offers, is just another indicator of a changing market.
I am not certain that there is any one item to which I can ascribe the market brightening – we have several years of pent-up demand. We have a market at or near the bottom. We have superb loan rates. We have improving consumer confidence. We have a fine inventory.
Individuals make decisions on some combination of these and other personal priorities, and there is never a single item to which a market can be attributed.