- Months Supply of Inventory in Single Family Homes and Townhouse/Condos have both increased significantly. If looking for properties, you now have more inventory now compared to the past year to browse and less competition.
- We are also seeing Days on Market Until Sale increase in both of these categories giving buyers more time to consider properties.
- Overall, listings have decreased this month, but we expect this to pick up the closer we move to Spring.
U.S. Market Recap
Mortgage rates trended higher nearing the end of the month. Pending home sales jumped in January, home price appreciation declined, as did mortgage application submissions. Construction spending slipped slightly and jobless claims decreased.