However, if we take a look at the market data, it appears that this spring may be very different than what we’re accustomed to seeing historically. Rather than a surge of new listings, we’re faced with quite the opposite - extremely low inventory. At the same time, we are seeing a continued level of very high demand, which has resulted in an unprecedented seller’s market.
On top of that, interest rates have begun to tick back up, adding a degree of urgency for buyers to lock in their new homes. All these factors have created an environment where homes are selling extraordinarily fast, and prices continue to rise, as people are willing to pay more to get the home they want.