{"id":1314,"date":"2023-02-21T19:08:26","date_gmt":"2023-02-21T19:08:26","guid":{"rendered":"https:\/\/nohasslelistingblog.com\/?p=1314"},"modified":"2023-02-21T19:08:26","modified_gmt":"2023-02-21T19:08:26","slug":"market-update-february-2023","status":"publish","type":"post","link":"https:\/\/nohasslelistingblog.com\/?p=1314","title":{"rendered":"Market Update February 2023"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\"><strong>Seller&#8217;s Market &#8211; but for how long?<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The current market has shifted to the seller\u2019s favor once again. &nbsp;But this is not your mama\u2019s market (i.e. the 2022 unbeatable spring market). Last spring we were in an overheated seller\u2019s market \u2013 fueled by demand, low supply and low interest rates \u2013 it looked unstoppable. &nbsp;Yet with interest rates more than doubling, by fourth quarter both supply and demand were in a deep freeze. We ended 2022 in a buyer\u2019s market. &nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Fast forward to February 2023 \u2013 and the market is now a gentle seller\u2019s market. &nbsp;What?! &nbsp;In what was literally the shortest buyer market ever, we have shifted once again. &nbsp;Supply has remained stubbornly low. &nbsp;Interest rates have drifted down a bit \u2013 and buyers have had time to acclimate to interest rate sticker shock. &nbsp;Hence, demand has risen. &nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">To summarize the recent rise of listings under contract compared to last year, no one is better than Michael Orr of the Cromford Report:&nbsp;<em>\u201cWe remain 27% below the count on February 13, 2022, so we are really back to normal rather than the wild and crazy market we had 12 months ago.\u201d<\/em><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">It\u2019s not a time for buyers or sellers to take market conditions for granted. If the last year proved anything it is that markets can change quickly. &nbsp;For an analysis in your particular area, contact us. &nbsp;This is a market to watch closely.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Russell &amp; Wendy Shaw<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">(Mostly Wendy)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Seller&#8217;s Market &#8211; but for how long? The current market has shifted to the seller\u2019s favor once again. &nbsp;But this is not your mama\u2019s market (i.e. the 2022 unbeatable spring market). Last spring we were in an overheated seller\u2019s market \u2013 fueled by demand, low supply and low interest rates \u2013 it looked unstoppable. &nbsp;Yet [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1314","post","type-post","status-publish","format-standard","hentry","category-real-estate-market"],"_links":{"self":[{"href":"https:\/\/nohasslelistingblog.com\/index.php?rest_route=\/wp\/v2\/posts\/1314","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nohasslelistingblog.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nohasslelistingblog.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nohasslelistingblog.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/nohasslelistingblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1314"}],"version-history":[{"count":1,"href":"https:\/\/nohasslelistingblog.com\/index.php?rest_route=\/wp\/v2\/posts\/1314\/revisions"}],"predecessor-version":[{"id":1315,"href":"https:\/\/nohasslelistingblog.com\/index.php?rest_route=\/wp\/v2\/posts\/1314\/revisions\/1315"}],"wp:attachment":[{"href":"https:\/\/nohasslelistingblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1314"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nohasslelistingblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1314"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nohasslelistingblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1314"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}