The World’s Slowest Mammal
The Guinness Book of World Records logs the three-toed sloth as the world’s slowest mammal, moving along at a contemplative speed of 6-8 feet per minute. Well, if you’ve been waiting for things to change in the real estate market, you may feel like you’re on a long, slow stroll with one of these adorable rainforest quadrupeds.
The first half of 2023 holds a few records of its own: Q1 saw the lowest number of single-family home sales since early 2009, and on June 30th there were fewer pending contracts than the previous 6 years on that day.
The takeaway: Why walk with the sloth? Sellers who are considering listing are still in a great position to maximize earnings. Meanwhile, buyers who are waiting for prices to drop could be waiting longer than they anticipate.
Condo sales edge up as buyers with a budget under $1 million consider them a viable option.
The number of pending contracts on June 30 hit a historic low, but we’re confident that with rising inventory and a late start to summer, third quarter numbers will improve. If you’re thinking of selling, contact Granger Group today.
Another record! It seemed as if the percentage of cash sales peaked during the COVID-induced buying frenzy, but data shows that this number is actually at an all-time high in 2023. This is why we always look at the numbers before jumping to conclusions!
Closing prices under asking mean we’re returning to normal negotiating and pricing strategies, those that more buyers are comfortable navigating. After a “correction” at the end ’22 and early ’23, we’re glad to see some stabilization in this metric.
Need a break from crunching numbers? Learn why the sloth moves so slowly.