Our Market Is Slowing Somewhat
I’ve been receiving these questions from both buyers and sellers quite a bit: What’s happening with the real estate market right now; is it starting to calm down? During this time of year in central Indiana, the market will typically calm somewhat. As kids are going back to school, buyers with children tend to put their home searches on pause, and others simply leave the market because autumn is beginning.
What’s different this year is that the number of homes being listed is trending back toward a normal market like we saw in 2018, according to the June, July, and August data. We’ve had more homes come onto the market in the last three months than we did during the same time in 2020 and 2019. Our market was extremely short on inventory in May this year, but heading into autumn, inventory is starting to rebound.
However, that certainly isn’t impacting competitive offers or home values. Our absorption rate, or the measurement of the number of months of inventory we have, is still very low. We’re still very much in a seller’s market.
If you’re considering listing a home or are looking for a real estate agent to help you buy, give me a call or send an email. Also please let me know if there are any topics you’d like me to cover in a future blog. I would love to speak with you.