Exponential Mindset Blog

March 2023 Real Estate stats/comments


My comments:

Social media can be a powerful tool for spreading information about the real estate market, but it’s important to be aware that not all information shared on social media is accurate or unbiased. From the stats table, inventory is still the key factor here.  Current market in my opinion is “slightly recovered” compared to the 2nd half of 2022 but it is far from RED HOT as what we have seen on the media/social media.  We are seeing multiple offers but it is definitely not to the extent of what it was like a year ago. The time properties spend on the market may also start to decrease, indicating that buyers are becoming more active and that competition among buyers may be increasing. However, the overall pace of the market may still be slower than what is considered normal, and the recovery may be fragile, meaning that there is still potential for setbacks. It’s worth noting that the recovery of a real estate market can vary greatly depending on the location and property type. For example, a slightly recovered market for luxury homes may look very different from a slightly recovered market for starter homes.

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