January 2022 vs 2021
Closing Volume: -10% lower
Average Closed Prices: + 23% ($554,437)
Pending Volume: -18% lower
Inventory: -46% lower
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Low inventories continue to keep closing volumes lower than they would be if inventories were higher.
The lack of inventory will continue to drive prices higher in the near term.
I’m not sure what inflation and higher interest rates will do if anything in the near term due to the seriously low inventory issues. Once inventories get to more normal levels then prices/sales volumes could be affected, but until high numbers of out of town buyers stop buying here with cash, we will continue to see inventory issues and higher prices.
*The monthly report is a simple comparison of the most recent completed month to the same month last year.
All Red Reports include Davidson, Rutherford, Williamson, and Wilson Counties. Provided to us by our President, Steven Dotson, Red Realty LLC.
Red Realty, LLC