This Is Why Headlines Are Confusing

When it comes to housing inventory, you may have seen conflicting information in the news. Some reports show inventory is on the rise, while others show it is even more scarce than last year. 

The reason? Shifts in the housing market are highly localized. Just take a look at the map below, showing differences by state across the U.S.:

See the interactive version of this map here.

Let’s forget the national statistics for a second (which show inventory is up year-over-year across the U.S.), and focus on what matters most to you—your local housing market.

Here’s what we saw in the Prince William County market in March 2024:

  • Closed listings: 13% decrease compared to March 2023
  • Closed listing prices:  88% increase compared to March 2023 
  • Average selling price for all homes in Prince William County: $626,853, a $70,000 increase compared to March 2023

Would it help if I broke down what this means for you? Let me know, and we can schedule a call. Text me at 703-297-1278.

 

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