Real Estate activity in the first quarter of 2022 was plagued with a low inventory of homes for sale. Rising sales prices and rumors of more interest rate increases were additional factors.
In the last few weeks, the market has been at a stasis point in terms of sales to inventory. However, prices seem to continue to fall a bit. Technically supply levels indicate this is a Seller’s market so it is likely that the downward pricing pressure will be light or variable. Watch for an up-shift in the MAI before price stability is achieved.