According to Redfin in December, pending home sales surged by a whopping 4%, marking the most significant jump in over two years. Homebuyers emerged in full force, lured by the largest monthly decline in mortgage rates since 2008.

Sellers joined the action, though not as aggressively, with new listings rising by 0.1%—reaching the highest level since September 2022. Prices experienced a remarkable 4% spike, the most significant increase in over a year, as buyers engaged in fierce competition for the still-limited pool of available homes.

I’m seeing increased bidding wars in certain areas as prospective buyers, initially browsing during higher rate periods, are now getting serious about making their move. I recently attended an open house last weekend, and the line out the door brought back memories of the pandemic days with 20 to 30 offers! This is just the beginning of a wave of pent-up buyer demand flooding back into the market.

Ready to make your move in the real estate market? Shoot me an email or text if you're a buyer and want to discuss the first steps. If you’re a seller, inventory remains low and now is a great time to put a plan in place for the Spring selling season.

Check out my short 90-second VIDEO reviewing this topic.