South County Market Trends, December

Market Trends

South County – The real estate market in South County has definitely slowed, our local manager notes. Presently there are fewer listings coming on to the market and sales are down from several months ago. There are several contributing factors for this phenomenon, the most obvious being the arrival of the holiday season. Other, more direct reasons, however, center around increased mortgage interest rates. During the past several months consumers have had to factor in higher rates coupled with higher list prices resulting in fewer sales and closings. The housing market, at least in South County, has shifted from one that favored sellers to one where buyers have more choices. It would seem that the significant shift in market conditions is just one more example of the market becoming more balanced, our manager believes.