Market Update 4/9/2020- What is the market doing today?
Inventory climbing so buyers may soon have more options. Today we have 612 active homes as we creep into April.
Inventory is normally rising during April, May, and June as we move into the 2nd quarter of 2020. These months are the typical roll out months as we move towards the busy months of summer. Pending home sales are dropping as homes currently under contract close. We have seen homes come back onto the market or fall out of escrow. Typically we do see these even in normal market conditions. Today’s total of 759 Pending homes and 353 of them are new construction. The market indicates Buyer and Sellers are still on the move. Buyers who want to buy this year should be ready by getting pre-approved and your home market values determined if you have a home to sell. That said our team of Home Buyer Specialist have been in competing offers all week on the current inventory of active homes. We are currently looking for homes in variety of pricing points. Demand is still there and it is a good time to be listing your homes to take advantage of the many buyers still looking for a place to call home. The Covid-19 Pandemic will have some effect on 2020 but it is still unknown how long or how much impact we will see here in Tri-Cities. We are watching the market daily to guide you through these challenging times. Check back daily for your next report or give us a call to provide you a personal copy of our report.