May’s Real Estate Stats Tell An Interesting Story

Mostly we learn that inventory is up…way up!

The last time we saw this many homes on the Tri-Cities real estate market, President Obama had been elected, but not yet sworn in. 

So, what does this mean?

Well, from a supply and demand perspective, the perfect time to have sold your house was sometime between late ’08 and now.  Now that the supply is increasing, and demand is staying steady, you won’t get as much for your house as you might have before. 

I know this is especially true in the under $200k category.  For a while, houses in that price range were flying off the shelves, as it were.  Now, they might sit for a bit because there are more of them from which the buyer may choose.  And, as of Saturday morning, we’re at 1,262 in total market count.

So, looking to buy!?  Looks like summer might be your time to do it.