Our inventory continues to drop. We are now below 600 active homes in SL county under 700,000. The last time we were this low was June 2022.
We are experiences very different circumstances from June 2022. Buyers have been steadily buying inventory since the new year but new listings have been sparse. This could be seasonal, since April and May seem to be the highest listing months and June, July are the biggest closing months.
Buyer sentiment is building but what about seller sentiment? Are too many sellers refusing to come to grips that our market has shifted and they will be getting a lower price?
You know what determines the value of a house? What someone is willing to pay for it. Period. The market always wins.
So the dance between sellers and buyers continues, but to a slow song like "Forever Young" by Alphaville......