Pending This Week:
Despite the headwinds of rising interest rates, pending sales showed a strong performance last week with 193 homes going pending (up from 166 the previous week). Of those, 88 were new construction and 105 were resales.
Homes For Sale:
The number of homes for sale is currently 890, down from 934 last week. Of those 890: 302 are new construction (down from 330), 141 are under construction (down from 142), and 447 are resales (down from 462).
The overall inventory rate hit 1.1 months, the lowest it’s been since early May ’22. New construction is at 1.2 months and existing slightly lower at 1.0 months.