“We absolutely loved working with Dee and Tom Cryer. They truly get to know each and every one of their clients and work hard to get to know you and what you’re looking for in your “ideal” home. Unfortunately for us, we started our house hunt right as the market started to peak, but the Cryers kept patient and did not give up on us over our protracted search. They were so dedicated, helpful, resourceful, and kind – they not only helped us navigate this unprecedented housing market, but they taught us so much along the way. They are true advocates and champions for their buyers, and are very honest when a listing does not feel quite right. We never felt pushed by them or rushed into any decision – just listened to and supported. We feel very lucky to have found them, and now, our beautiful home! Get in touch – you’ll love working with the Cryers too :)” Emily C.
|New Listing (725) During the last 7 days of this #FirstMonth, this is not a lot of new Listings!|
|Coming Soon (130) This helps, but it is not a lot either.|
|Back On Market (166)|
|Price Increase (83)|
|Price Decrease (642) This trend is clearly carrying over from 2022.|
|Pending (1060) Wow, this is a great number for defining the new year.|
|Closed (585) Not up to 2022 standards, but keeping pace with the New Listings to a degree.|
Now let us show you the bigger picture.
As you can see above, 2020 and 2021 were the anomaly in data history. Falling deep, deep, deep into the lack of supply during these two years where we experienced massive shortages. Now, the market gives every indication of coming back to a more normal ratio of supply and demand. The year end 2022 deep dive of inventory compares very favorably with those previous 8 years.
During this #FirstMonth of 2023, we’ve experienced a rally on #WallStreet, a significant decline in 30 year rates, and the FED has given us some light into what the future may bring. No, the #SkyIsNotFalling, but we have some work to do in these first few months of 2023 to confirm my Hypothesis, but there is a good chance 2023 will roll out just as I have described here. As the infamous Dale Furney once said, “It’s bigger than all of us, just swim with it…”
From our family to yours, see you next week….tc
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