May 24th: RE SUMMARY

Keenan Coit, Coldwell Banker Distinctive Properties

Author

Keenan Coit
May 24, 2022

Google Searches for "housing bubble" have been spiking since March. The good news, though, is that when looking at searches for “housing bubble” all the way back to 2004 — the maximum range Google offers — today’s spike in searches doesn’t seem so bad. Indeed, 2005, when home prices were shooting up but the bubble hadn’t burst yet, was actually the high point for Google searches on the topic, with interest far eclipsing what’s going on today.

We continue to see increases in housing supply week after week. This can be attributed to the typical spring market and rising interest rates. This market is still a very strong seller's market and a slight adjustment to our supply and demand should be welcomed by all.

  • There are currently 338 active homes on the market in Mesa County. This is a 5% increase over last week!

  • The average list price of those active homes is $597,000 which is the same as last week.

  • The average days on market for those listings is 41.