Those balanced markets of years ago tend to occur in the 4 to 6 months range, so it is still clearly a seller’s market. The median price of the listed inventory has been flat for the last year. The current median price of the inventory of single family homes is $592,500. The actual median sold prices, on a 3 month rolling average basis, is up 2% year over year. Interest rates went up a little this last month. The average current US rate for 30 year fixed mortgages is 6.72%
Buyers often still have to work pretty hard to find their “right” house. Transactions now get to have the traditional, usual provisions in them. Buyers and sellers can be less frantic, and more thoughtful, than during the last couple of years.
