Buyer demand continues to soar while supply of new listings continues to drop. Thus, inventory levels keep plummeting and prices keep soaring.
When Will This End?
Either buyer demand has to CRATER or supply has to SOAR! I believe the chances of buyer demand cratering or dropping off a cliff at less than a snowball’s chance in hell. Why? Tens of millions of people have been COVID vaccinated, fewer hospitalizations and deaths, businesses re-opening to the public and our national leaders throwing trillions of Dollars at our economy, plus a Federal Reserve with no concern for inflation. And if Congress passes President Biden’s $15k FTHB Tax Credit, demand will soar to even higher levels.
So, our only hope is more homeowners list their homes for sale. Will the vaccines and fewer hospitalizations cause more homeowners to list their homes for sale? I sure hope so.
Source: https://www.dmarealtors.com/