Alonso Real Estate Group
Alonso Real Estate Group
Nov 3, 2022
Since September, we had a 3% Increase in new listings and 13% increase in days in the market. Homes in escrow stayed about the same but we saw a 17% drop in homes sold. This is not a market crash similar to 2008 but rather a price correction after the purchasing surge due to the low rates. The price adjustments in the current market is directly correlated with the higher rates. We are entering a balanced market, average and median prices have adjusted close to 2nd Quarter of 2021. Which would you prefer, Lower rates with Higher prices or Lower prices with Higher rates?