- Home sellers really need to re-think their expectations.
- The days of “multiple offers and waived inspections are behind us.”
- Active Listings up a whopping 59% from a year ago.
- Both pending sales (mutually accepted offers) and closed sales during May were down from a year ago.
- Rising interest rates coupled with inflation are causing buyers that rely on conventional mortgages to reconsider the affordability.
“Home sellers really need to re-think their expectations,” suggested Mike Larson, a member of the board of directors at Northwest Multiple Listing Service (NWMLS) when commenting on statistics summarizing May activity. The new report showed a significant increase in active…