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March 2010: Seller's Market May End Soon

Posted March 30th, 2010 under market updates.

March has seen the continuation of two trends: high sales and rising prices. The supply of homes listed for sale has increased by 50% over February, but we need another increase of 50% to return to normal levels of supply. At the moment, the short supply and rock-bottom interest rates are still resulting in properly-priced homes selling within about a week.

However, interest rates are showing signs of rising, and higher prices will soon become less attractive to first-time buyers. A larger supply of homes would benefit everyone by keeping the market stable during this transition.

For now, the seller's market is still with us. If you've been planning a move, I recommend you don't wait.

Want to know more about the state of the market? Just ask me, I'll be happy to help.