September trends were on track, with increased inventory and a softening in sales as is expected this time of year.

Inventory is up 14.3% from last month. Typically, MSI* of 6 months+ indicates an excess of homes for sale, aka., a Buyer's Market. While we are trending in that direction we are not there yet. This additional inventory combined with historically low interest rates , provides excellent opportunities for buyers in our changing market.

Sales are down 12.9% from last month but this decline is to be expected as the holiday season nears.

We continue to see homes appreciating in value , albeit at a slower pace than the frenzied climb of the recent past. Presently, appreciation in home value for 2019 is 3.6%.

This slowdown is considered a correction of a heretofore overheated market . All indicators reveal a balanced market performing at a much healthier pace for people to make prudent decisions. Roughly 95% of economists are predicting a mild recession in 2020, to have little or no effect on the real estate market.

* Months Supply of Inventory

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When you are Buying real estate, be sure to have an Agent representing and protecting YOUR interests during one of the largest purchases you will ever make. The commission is paid by the Seller, as inherently structured and agreed to in the contract established between the Seller and the Seller's representative, the listing agent.