Homebuyer competition drops to the lowest level since 2020, yet sold prices go up!
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Homebuyer competition drops to the lowest level since 2020, yet sold prices go up!
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Homebuyer competition drops to the lowest level since 2020. The top three areas that now have lower competition according to Redfin Data are Tampa, Riverside, and Phoenix.
The list-to-sell ratio is still high in many areas, over 100% although we have seen price cuts all throughout the housing market across the United States. Let's see what the numbers say for each of these areas.
Articles I talked about and used Redfin Data on the home competition in the United States. Homebuyer Competition Drops to Lowest Level in Over Two Years. https://www.redfin.com/news/real-estate-bidding-wars-june-2022/
List/Sell Ratio and what does it mean https://www.beverly-hanks.com/blog/what-is-a-list-to-sell-ratio-and-what-does-it-tell-a-homebuyer-or-seller/
List/Sell Ratio stats over the years https://www.statista.com/statistics/1242369/home-sale-to-list-price-ratio-usa/
The Median Sale Price is up again https://www.nar.realtor/newsroom/existing-home-sales-slid-5-4-in-june
The Median Home Price for existing homes sold is up. https://www.cnbc.com/2022/07/20/june-home-sales-fall-5point4percent-from-may-as-prices-set-yet-another-record.html
#TristanAhumada #RealEstate #Crash #Bubble #Economy #Inflation #RealEstate2022 #RealEstateAgents