Market Review For June 2018

“It’s the best time of the year for potential home buyers. At this time, we always see the highest number of new listings come on the market on a monthly basis. More new listings creates more opportunity for home buyers.

However, for today’s market, it still takes instant response as sales activity remains at a frenzy level for these new listings. Especially close to the job centers and below 500k.

Starting in May, with more new listings, we start to see dispersed buyer energy, where the backlog of buyers are spread over more properties for sale. Therefore, while we continue to see multiple offers, we just see a few less offers on each individual home for sale. This takes our sales activity indicator down a few degrees of hotness, but it remains at a frenzy level.”