Pierce County Housing Update - Resale Only
With the winter cleanup of unsold inventory complete, we are entering the year with a shortage/low level of unsold inventory up to $500,000 where 60% of sales activity takes place and $750,000 where 30% of sales activity takes place. A low number of new listings come onto the market during January and February. With this as a backdrop, we anticipate strong/very strong Sales Activity Intensity™ of new listings going under contract within the first 30 days.
SALES ACTIVITY INTENSITY™ SCALE
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KEY MARKET INDICATORS january 2023 (december Recap)
With fewer buyers looking to purchase homes, there are fewer homes coming onto the market which is leading to the shortage/low level of unsold inventory especially in the more affordable, mid-price+ range of homes. Heading into the spring market, we will increase one level of hotness of Sales Activity Intensity™ for new listings before the intensity settles down pre-summer when we can expect to see a higher number of new resale listings coming onto the market. Remember, it’s okay to buy and sell within same market timing.
Current housing market: