Spring Market Trends

Trends for the $200k-$400k market

The market is just moseying along at a nice comfortable pace. Inventory numbers show a bit of a spike in the middle of the market. The bottom is still hot but the middle is now starting to see solid and promising activity. Between $200,000-$400,000; new listings, pending units, sold units are looking favorably up with a median price running flat since the start of the year. One statistic that is intriguing in this middle market analysis is the price change differential. This indicates how much less than list price homes sold. That is trending down which means more full price or near full price offers are coming in. Once the middle gets some good traction we will see the top of the market begin to swell a bit also.

Trends for the $200k-$400k market

2014 is shaping up to be a healthy market. I do not expect explosive growth like we had in 2013 but I am very optimistic about the overall trends that seem to be forming now.

I have also seen a nice surge in the $275k-$325k new home market with builders offering a little more inventory in that middle upscale market. The move up market can drive both the top and bottom and I feel that it is critical to see positive movement in this area.  Buyers are out there and they seem to be jumping in cautiously but in good numbers.

Buyers also seem to be continuing the trend of spending less than the bank will offer. The mid 2000s saw buyers using every dime of borrowable assets but lately I see a trend to leave some on the table. Caution after a rough market crash that is only five years in the rear view mirror.

This is a great time to list a home and it is still a good time to jump in and buy.