The amount of listings on the market increased from a year ago while the amount of homes in pending dropped. One month of data does not indicate a trend, but it's possible be are heading into a buyer's market.
The happy middle is that closed sales stayed steady with a slight increase. This is really what matters most when talking about volume. In fact, the closed sales were the highest GAAR has reported in February since 2007 and that slow down in pendings could just be seasonal.
When looking at prices, you will see the average sales price dropped slightly, but the median price stayed stable. Roughly 77% of homes sold in February were for less than $250k. To me, that means there are still lots of great deals out there if you are in the market for a home.
View all of the GAAR stats here
And to find your next home visit www.LynnM.com
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