April 2023 Market Update

Most notable is that there were only a reported 93 sales in March, which is a 33.6% decrease when compared to the 5-year average of sales volume for the month of March.

March 2023 Market Update

The primary factor in the residential market is a significant shortage of supply of homes in inventory.  Many properties are experiencing multiple-offer situations and sale prices well above list.  Most of these properties have been extensively updated, and it appears most buyers are willing to pay a significant premium for updates.

February 2023 Market Update

For buyers, the market is beginning to show signs that are in the buyer’s favor following two years of an extremely strong seller’s market. However, we are seeing interest rates remain high despite the long-term projections. It is important for buyers to take into consideration their buying power as higher rates put pressure on monthly payment amounts.

January 2023 Market Update

It is most notable that while there is still a significant shortage of homes available in inventory, the market is showings signs of moving back to a state of relative equilibrium. Prices remain strong though marketing times are increasing significantly. This is likely due to seasonality of the market (see graph “Number of Sales by Month”), combined with high interest rates.

Benefits of Investing in Residential Real Estate

Investing in residential real estate can be a great way to build wealth and financial security for you and your family. There are many benefits to this type of investment, including the potential for long-term appreciation, steady rental income, and the ability to leverage your investment. In this blog post, we will explore the benefits of investing in residential real estate and how it can help you build generational wealth.