You’ve been hearing about it. The market shift.
In the past month, fewer homes sold. A total of 666 homes sold in Dane County in August 2022 compared to nearly 800 in September. Prices also dipped a bit and the days on market increased from 15 days in August to 20 days in September, 2022.
While the market may be shifting as interest rates continue to rise, the low inventory still seems to be a problem for buyers who need to buy despite the changing Real Estate market.
So where does that leave us? Sellers are still selling and despite the changing market, buyers are still buying. Some buyers can afford less now than they could in January due to the rising interest rates, so home prices are still a major factor.
One glimmer of good news is wages. Wages continue to climb which is good news.
Want more insight into what the market is doing? Send me a note and let’s chat!