out on a Limb
March surprised us a bit, as activity leveled off a little from the pace earlier in the year. Might have been the weather, might be a wavering of consumer confidence with the hiring freeze or it might just be that it paused briefly, we will just have to see. The warmer weather in April should get people back out and I expect to see both the number of sales and the amount of active inventory increase. The 1st time buyer properties have been in high demand and I think it has finally sunk in that if you keep waiting, your purchase power just erodes away. Multiple offers on good, 1st-time buyer properties are the norm as of this writing. I look for that to continue, maybe through April, but at some point, inventory will catch up with demand and that pace will slow. I look for the over $600,000 market to see a bit more activity in April as well, as relocation activity increases. Inventory will increase if it follows the normal pattern, which I think it will. Rates are slated to rise twice more this year and they are now pretty firmly in the 4’s. April will be interesting and I will, as usual, keep you informed.