Greetings,
I hope everyone is having a great year so far. As we approach the midpoint of 2022 we are starting to see the market shift a little. On the surface things look similar with the average sales price around 13% higher than the same time in 2021. The inventory levels are still lower than last year as well with just 0.9 months of inventory on the market but we are not seeing quite the same frenzy for each home as we saw in March and April.
The market is still strong and it is still a good time to put your house on the market, if you are looking to sell but it seems like the rate of increase is starting to slow a little due to the fact that interest rates are rising and it is affecting affordability. I expect the inventory to rise slightly over the next few months so if you have been waiting to buy things might open up a little bit in June and July.
My advice for sellers is that it is still a great time to sell but this is probably not the time to really push the boundaries on pricing. If you would like to know what your home would sell for let us know and we will be happy to come check out your home and give an idea of what it would sell for by going to www.HREGHomeValue.com and make sure you put in your home address and email address so we can get you your report.
Thanks again for checking out our newsletter and let us know if you need anything going forward.
Respectfully,
Mike Kelly, President
Hickory Real Estate Group Inc.
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