Realtor® Tidbits:

• We continue to see sellers reduce listing prices or offer rate buydowns to attract more buyers.
• With so many buyers already owning a home. Contingent offers are becoming increasingly common.
• We see the number of showings on listings increase, but we do buyers’ urgency in January to submit offers. Buyers now have some breathing room before submitting a request.
• More and more buyers are expecting – and even relying on –  floor plans being included in the marketing of a property.
• Despite higher interest rates, the spring homebuying fever is setting in, and Realtors® are receiving multiple offers on properties priced correctly, houses below $600,000 or over $1 million, remodeled homes, and properties in unique or desirable locations.

 

Quick Stats:

• The average active listings for February are 12,905 (1985-2022).
• Record-high February was 2006 with 25,484 listings, and the record-low was set last year with 1,226 listings.
• The historical average increase in active listings from January to February is 0.53 percent. This February, a decrease of 8.30 percent represents the second most significant percentage decrease since 2021’s 12.61 percent.