Seller Storylines
Most years, we see a large influx of new listings beginning in March and continuing through May. This can make it difficult for sellers listing in June because the increased listings create a lot more competition for the seller.
This year the number of new listings in April were down from March (red line). Sellers listing in late May or June will benefit from this lower inventory.
Note: Despite the lower inventory levels, prices have come down slightly since last year and sellers are paying concessions about 50% of the time. (see the graph at the bottom of the page)
Sellers with properly-priced properties can still expect a couple weeks on the market before going under contract, but homes needing price drops will take a lot longer to sell.
Buyer Storylines
For buyers, the mainstream media message is higher interest rates. What’s not talked about are the factors weighing in favor of buying this year vs last year.
Buyers paid 6.1% less this year vs last year for a single-family home (see chart above)
Buyers have a lot more inventory to choose from. Active listings are well above 2022 and 2021. (the red line)
Buyers are getting seller-paid concessions on about 50% of all transactions.
Get the Complete Presentation
Don’t miss the chance to gain valuable insights and data! We’d love for you to check out our complete presentation on the real estate trends for April 2023.
You can order the complete presentation as-is, or even better, we can customize it with your own branding. The choice is yours!
