Here are our latest real estate market stats from September 2021.
Today on “Jason Penrose TV,” I’ll show you the latest stats from our September 2021 market.
In terms of inventory, there were 13,899 homes available for purchase in September, compared to the 16,906 last year. That’s an 18% decrease in available housing. 10,331 new homes came on the market this year compared to 11,036 last year—a 6.4% decrease.
This year, 9,382 homes were sold, while last year, 9,632 were sold. That’s a 2.6% decrease. The months’ supply of inventory went down from 1.76 months last year to 1.48 months this year—a 16% decrease in the supply of homes.
So what does this all mean? We have fewer available homes, the number of homes sold is down, and inventory is still declining. This proves that we’re still in a seller’s market, though the market is starting to level off. The slide on the Crawford Index will not continue; it peaked at 515, and we’re currently hovering around 340 or 350. That’s still higher than it was at the peak of 2005.
Because of limited inventory and low interest rates, many people are now able to purchase. It’s now cheaper to own a home than it is to rent in most cases. If you’ve been thinking of purchasing your first home, now’s the time to do it so that you don’t get priced out of the market. You’ll also be able to lock in low rates; the Fed is hinting that rates could go up next year, which will price many people out of the market.
If you have any questions about what’s going on in the market today or how it affects your real estate goals, don’t hesitate to reach out to me via phone or email. I’d love to help you.