This is a question I’m often asked and there are no simple answers as there are many factors that impact all markets. Most impactful is our limited inventory of residential properties. Many would-be sellers continue to question where they would go should they decide to put their homes on the market. Home prices have risen in just about every market in the US. What we are certain of is that there doesn’t appear to be any conditions where we can expect a surge of new properties coming into the market any time soon. I do believe we will see fewer buyers enter the market as mortgage rates continue to move higher. However, for at least the near future, I see the market to remain a strong sellers market.
