Closed sales increased 6.1% from last year in October as well as 8.9% since last month. As the graph below shows, the trend since 2015 has been a decline in October. I was pleasantly surprised to see the increase!
What does this mean to you?
If you’re a seller: This shows that the demand for houses didn’t slow down in October – time will only tell what happens in November! With inventory decreasing and closings or demand increasing NOW is still a great time to consider selling.
If you’re a buyer: My prediction is closed sales will decline in the coming months as they have historically done. With inventory likely to decrease so will your competition from other buyers – think less multiple offer situations and maybe a little more time to submit your offer (though my advice is to NOT move more slowly!).
If you’d like to see the whole report and talk about buying or selling this winter let me know and let’s grab a coffee or beer and talk about how it impacts your real estate plans.