A little rise here, a little decline there, the housing market is in a hamster wheel.  We are stuck.  A growing fear is now remaining stuck and for how long?  What do I mean by stuck?  Active listings are increasing, but not really that much.  Definitely not enough to put a damper on prices.  Pending and Closed sales have decreased, but not really that much to affect DOM (Days On Market), same as last month.  Purchase applications decreased again, but not really that much, and are pretty much even with the number of positive increase readings so far this year.  Mortgage interest rates have increased, but not really that much.  Not enough to deter a certain percentage of buyers to make moves at these levels.
Stuck.

What can get the market unstuck? Well, inventory rising, but we would need a lot of inventory to make a dent.  There's no data you can show me that says there is inventory ready to be dumped on the market.  Homeowners are not in distress.  Homeowners are not in a rush to move from their current locked in interest rate to a higher one.  Mortgage rates could decrease noticeably, which would bring a lot of sidelined buyers back into the market, but then what?  It becomes an even greater uphill climb on the limited inventory.

So, what to do?  Let's keep watching the weekly and monthly data.  Let's be forward looking and thinking.  Let's prepare and put ourselves in a position of strength when the right situation presents itself, whatever that may be for each individual.  If you have questions or need some help putting things together, please reach out.

What are you seeing or hearing? I'd love to know paul@guiderealestate.com