Is There Cause for Alarm?…
Yes, fewer homes are pending this month than a year ago however, that is likely due, once again, to the low inventory. In fact, I marveled a year ago that 32% of the sales were at or above asking. This year, I am marveling even more that 71% of the sales were at or above asking. So, I would say, no cause for alarm, yet. What will the future bring? It is so hard to say. Affordability is becoming a real problem for many. Any jump in interest rates will further exaggerate the problem. Bottom line, it is still a great time to sell a house in Washington Park.
If you love where you live and aren’t worried about capital gains tax, stay and enjoy it. If not, let us know how we can help.
