|The market continues to improve as the buyers who help back last year are coming back out and supply continues to decrease. If a house is priced right or has something that makes it stand out from the competition such as upgrades, a beautiful backyard, a view etc. we are seeing multiple offers again.
Although the sales volumes remain lower than a year ago, it is largely because institutional investors and iBuyers are missing in action on the buying front. A year ago they were competing frantically, which they probably now regret.
The balance between supply and demand has been moving consistently in sellers’ favor since mid-November. This confirms we are in the rebound phase of the correction that dominated the second half of last year and created an atmosphere of fear throughout the market. That fear can now be replaced with relief as one market signal after another turns positive and resumes a normal trend
Statistics from the Cromford Report