Bring on Spring

The data below shows just how much the market has corrected itself since the peak in May of 2022. This number changes up or down based upon closed sold prices. What does this mean for us going forward?

It's still early in 2025 but the activity index is a good indicator of where we are as it shows the rate at which properties that come on the market are absorbed. A healthy market is considered one with at least a 25% activity index. Typically the higher the index the lower the months of inventory and vice versa. These charts show the data for the 30 cities within our metro. Over half the cities listed show a 25% (or very close to it) activity index. That is a good sign. It's also worth noting that many of these cities have active listing prices higher than pending and sold prices. The activity index report for zip codes shows even more granularity as real estate is hyper-local. What is yet to be determined is whether that trend continues or other economic factors force more price decreases. And also will buyer demand pick up given current prices, interest rates and other economic conditions?