It seems like every month is a repeat of the previous month, and February was no exception. The year has started strong carrying on the growth we saw in 2012.
When comparing this February to the previous year, home sales increased over 43% and median prices were up nearly 19%. As we look forward to next month’s comparison keep in mind March 2012 saw a dramatic increase in home sales. If this year continues to outperform last by wide margins, March should be one of the most active months in recent history.
Inverntory continues to drop. The end of February saw 605 homes available, compared to 665 in 2012.
As much as it has ever been, now is a good time to buy or sell a home. Interest rates appear to be creeping up, so if you have been putting it off, now may be the time to get in the market.