It's Monday. Let's talk about the market, shall we?

So we're going to look at March, April, and May of this year and then talk about de-escalation versus depreciation.

In March of this year, we saw the median home price at $380,000, with the median days on market at five. In April, we see it jump up to four hundred and sixteen thousand, with a median day of the market of five as well. Then, in May it only jumps to four hundred and nineteen thousand, with median days on market going up to just six.

So what you can see there is between March and April, there's a 10% rise in prices. That's because interest rates are still a little bit stable. They've jumped up for sure, but they're still stable. Then from April to May we start to see those interest rates rise and rise and rise, and that's where we see that it's just de-escalated.

So de-escalation means prices are normalizing. Depreciation means that prices are on the decline and this is not what's happening. I hope this helps!

Take care; I'm glad you stopped by.

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