Cheryl Jones

Here's what we're seeing in the market these days:

Zillow leaving the home buying business does not signal a top in the market. It also does not mean that the iBuyer model is going away.

New home sales are down dramatically because of the inability of the builders to complete home construction (supply chain issues and skilled labor shortages), not because of lack of demand.

Supply has started on a slight downward trend and is very likely to continue through the rest of 2021 which would conform to the usual seasonal pattern.

Demand is still strengthening but closings are taking longer.

We can expect prices to continue rising in the near term.

Stay tuned to see what the remainder of 2021 will bring.