Home sales decline below long-term averages and inventory remains low
Here’s January stats report:
https://www.rebgv.org/market-watch/monthly-market-report/january-2023.html
Note the comments from the author (Andrew Lis) regarding prices reaching a footing. This could be true especially if supply doesn’t increase significantly. I’ve already noticed several multiple offer situations since seller’s realize the market shift & are pricing more realistically. In some instances pricing below market value in hopes of creating the multiple offer to push the sale price beyond the list price. One key difference that has changed from past years is the mandatory buyer rescission period.
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