What caused the rise in our inventory? It’s not what you might expect.
If you’ve been keeping up with the news, you’ve probably heard a lot of alarming headlines about the housing market. However, you need to remember that real estate is local. That’s why today I want to share some critical points about our Greater Madison market so that you know what’s actually happening locally.
You can listen to my full explanation in the video above or skip to each topic using the timestamps provided:
0:00 — Introduction
0:39 — The impact of recession on the housing market
1:44 — Recessions don’t automatically equal a housing crisis
2:37 — The increase in inventory is due to a slowdown in the pace of sales
3:22 — Supply and demand are the driving factors of the housing market
4:49 — There’s still a big deficit in available homes
5:12 — The impact of inflation on mortgage rates
6:12 — Listen to reliable news about your local market
6:26 — Wrapping up
If you need more details about our Greater Madison housing market, don’t hesitate to call or email me. I’m always willing to help!