January 2021

Found 1 blog entry for January 2021.

Welcome to another edition of Mark's Market Update! 

We’re in mid-January, and what happened in 2020? 

✅We ended the year with the lowest inventory levels in the last 10 years ~ Less than 1.5 months of inventory in the markets that we follow.

✅That is a severe sellers' market. 

✅A buyers' market would be about 7 months of inventory. 

✅Prices increased 20%+ year over year in many areas/subdivisions 

Evaluating the first 10 days of January- 2021 vs 2020

✅We continued to see inventory weakness, that is consistent with full year 2020. We saw a decrease in sales (closed homes) 2021 vs 2020 in the first 10 days of 25% 

✅Corresponding prices were up significantly. ranging up from 10-15% 

✅ Classic Supply and Demand, with weakness

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