Chris Cowles Real Estate Blog

Putting Our Crazy Market Into Perspective

Here are some past stats that put today’s crazy market into perspective.

I’m dedicating today’s market update to two of my best buddies, Louis and Michael, who always razz me about my videos. I hope you guys enjoy this one. Today I’m taking a quick look at the current market craziness and how it compares to what we saw in our last balanced market.

In 2014, inflation was average, rates were around 4%, and homes were taking an average of 77 days to sell. That was a fantastic, balanced market where everyone was winning.

Today we’re dealing with interest rates that are increasing past 5%. Homes are selling in just an average of 12 days, and inventory is less than a quarter of what it was back in 2014. I’m hoping these increased interest rates will alleviate some pressure and create a more balanced real estate market.

If you have any questions about what’s going on in the market, how to buy or sell, or anything else related to real estate, don’t hesitate to reach out via phone or email. I look forward to hearing from you soon.