Are you weighing options of selling vs. staying?
Hawkins-Poe is running end of decade stats from the beginning of recovery from the Great Recession 2010 to now the beginning of the recovery from the virus economic blip of 2020.
Here is the stroy in short:
In November 2010 locally in Pierce County we carried 7.3 months of inventory certainly putting us into a very healthy BUYERS MARKET.
In November 2020 locally in Pierce County we currently carry .63 less than one month of inventory putting us in a very healthy SELLERS MARKET.
Makes perfect sense for the chatter in the streets right? NO INVENTORY, Nothing for sale....
Here is what you wouldn't expect:
November 2010 Listings taken: 1,482
November 2020 Listings taken: 1,450
HUH? How does that make sense.... we are taking on the same amount of inventory month over month. Age old supply and demand is how. The amount of people moving to our area both from larger cities and the need to sprawl because of people working remotely is forcing a literal month over month house cleaning.
Needs are changing.... For the first time since 2010 the average size of a sold home went UP! What does this mean for 2021? We believe these trends will continue as the cost to borrow will remain low through the end of the year.
If you would like to dive in deeper we LOVE stats.... let's have coffee, tea or maybe something a little stronger (outdoors and with a mask of course) to talk shop, because we nerd out on this stuff!