🏡 Market Update: What’s Really Going On With Housing Right Now
It’s a mixed market out there—but there’s opportunity if you know where to look.
🔻 Existing Home Sales Dip
In April, existing home sales slipped 0.5%, hitting their slowest pace for this month since 2009. Why? Stock market volatility is making some buyers nervous, and cancellation rates are rising (now at 7%).
But don’t let that scare you...
🚀 New Construction Is Surging
Sales of new homes jumped nearly 11%, hitting a 3-year high! Buyers are still out there—they’re just gravitating toward fresh inventory. Builders are offering incentives, and many homes are move-in ready.
💼 Job Market: Still Strong, But...
While initial jobless claims remain low, continuing claims are up, signaling that it’s taking longer for people to find new jobs after layoffs. That uncertainty may be giving some buyers pause.
What It Means for Buyers & Sellers:
✔️ Still a Seller’s Market
Low inventory = strong demand = prices likely to keep rising.
🤝 Buyers Need Strategy
Rising cancellations and rate sensitivity mean strategy matters. Let’s talk game plan.
📊 Job Security Matters
Buyers feeling uncertain need clarity—help them walk the numbers and weigh the risk.
📅 What to Watch This Week:
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Tuesday: Home price data release
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Wednesday: Fed meeting minutes
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Thursday: Pending home sales + GDP
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Friday: April inflation numbers (PCE Index)
📣 Pro Tip for Buyers:
New construction could be your best bet right now. Builders are negotiating and offering perks—and you may be able to move in faster.
Let’s chat if you’re thinking about buying or selling—I'll help you make sense of all the noise and stay one step ahead.