CNBC July Residential Market Update

 

THE DATA: (Nationwide Stats)

Inventory up 27% for SFR

Prices up 1% YOY

42% of homes have a price drop on the market

THE TAKEAWAY: 

Its here. Inventory sky rocketing; 42% of homes with price drops. The tide has officially turned and I expect this trend will start to pick up speed. Buckle up. 

If you own multiple properties, I'd consider selling unless you are really confident in your particular area and/or see a value add potential. 

If you don't own, sit back and build up your cash. There will be many unique opportunities out there. 

For more information on Snohomish County Real Estate, we'd love to talk: 

Scott Weitz

Scott@weitzcommercial.com

T: 206.306.4034