With the holidays and new year behind us, the market is set for a major bounce back. An unknown variable is the number of forbearance houses that will become foreclosures and enter the market this month. They aren’t expected immediately because they probably need major repairs after months of likely deferred maintenance. Since materials and repair labor are both in short supply, it will take a while to see the more damaged houses hit the market.
The lease market was inverted this week, but the difference was minor and the volume was so low that it isn't a significant concern like it was for much of the year.
Mark M. Hancock, GRI, MRP, AHWD
REALTOR, New Build certified
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