September’s Sorry Supply
As Fall descends the dilemma of real estate supply continues to climb. While market reports show a decrease of activity on a year over year basis it is almost entirely a function of limited supply. Yes. Seller fatigue did contribute to a summer pause, but the real trickster in making sense of the data is the limited number of listings.
As mortgage rates remain low and inflation rumbles forth there is a good financial planning argument for maximizing debt. However, debt writes a cautionary tale and should be taken on as such. The trend out of the city has slowed as some companies lobby for employees to come back to the office and aspiring young executives think there is value in being in the office. The disparity in prices in the 905/705 and 416 has also narrowed. Small towns and country places which once seemed like a bargain are showing their own pricing heat and competitive offer nights.