We’ve turned the corner on the low inventory crisis of the past year.
I’m starting to wonder if we’re turning a corner on the low inventory crisis. If you look at the national numbers between May and June of this year, the number of homes available is up 10.9% despite that time of year typically having low inventory. Phoenix’s inventory was up 28%, Cleveland’s was up 38%, Columbus’ was up 26%, Milwaukee’s was up 45%, and San Jose’s was up 41%. This trend is happening across the country.
In our local market, June’s inventory was 1,003 homes. In April, there were only 820 homes on the market. In May, there were 934. We’re starting to see the numbers creep up.
The good news for buyers is that they now have some more choices. The good news for sellers is that the prices are still continuing to rise. Many sellers have been hesitant to put their homes on the market because they’re worried about finding a new home.
Now they have that opportunity. It’s time to consider buying and selling. If you are interested or have any questions, give me a call or send me an email.