“Shorter days and tired buyers are cooling the housing market,” reports Linda O’Koniewski, CEO of RE/MAX Leading Edge. “Baby Boomers are choosing to remain in their largely under-used homes because the down-sizing cost is almost as much the home they would sell. Low inventory is the new normal. Smart buyers should seize the market with aggression because their competition is retiring for the holidays.”
The latest 12 months sales of single-family homes in the RE/MAX Leading Edge service area increased .4% year-over-year. Inventory remains down -31.4%. The number of days on market is also down -26.5% while median sale prices remain up +9% at $577,500.