Low Inventory Limits Q1 Sales

Are you looking for your dream house? Due to current market conditions you may have less homes to choose from then ever. Year-over-year inventory levels in Southeast Michigan are on the decline with an 11% drop from last year and 28% down from 2016.

Seasonally this time of year we see an increase in inventory. This is in large part due to the nice weather, home owners are preparing the home and trying to get it in the best shape possible so it can bring them top dollar.

Pending sales in April increased 46% from March. This is an indicator of an increase in properties under contract that should be expected to close next month.

Harsh weather in the first quarter may have delayed some of the early activity, as it starts to warm up sales should increase as well.

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