Dear Monica: I have been waiting for more homes to come on the market but so far, there are very few new properties. Is this an unusual year? Marty C.
Dear Marty: The spring market is late this year and it’s not clear whether it is just late or if something else is occurring. In January it was Omicron that caused buyers and sellers to wait while they watched what the new variant would do. The stock market too has been very volatile with two straight months of losses. There have also been interest rate increases, rising inflation, and Russia’s aggressive actions against Ukraine. Many sellers are pausing to see what will happen while others are rushing to sell their homes before they feel it’s too late. If inventory doesn’t improve soon, we may be seeing a change in the market. Stay tuned.