The NWMLS latest Press Release showed an Icy February market. A reflection on the weather? Some think so, and I happen to agree! Although inventory levels rose, pending homes dropped. The snow certainly had an effect on people's ability to get around (myself included!) which only makes sense the market had less than normal activity. Here are a few key points:
- February pending sales dropped nearly 14 percent.
- Showing activity dropped more than 41 percent the week of the heaviest snow.
- Inventory levels show a 42.3 percent jump from twelve months ago.
- Prices appear to have bottomed out to around year-ago levels.
- As February temperatures plunged, prices in most counties started heating up, rising from a year ago as well as when…
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