Market Summary: Feb. 4, 2014

It is official: we are in a buyer’s market again. 

The new year came along and the listings have been coming on, but the buyers are not yet active.  

But, I believe they will be soon, and we might be in a rush again. How do I know? Look at the Cromford Index, below.

The index keeps dropping (meaning it is an increasingly strong buyer’s market), yet the active listings keep climbing. Those prices are going to have to come down and/or buyers will have to come on the market in order for those homes to sell.

I know you’ve heard this before, and at the risk of sounding like a used car salesman, I’ll say it: the time to buy is now. 

If you are buying or selling this is the time you need to watch very closely to see which way it will go. Call me at 602-456-9388 with questions.