Local MLS data for February 2022 continues to support the seller’s market. We are sitting on 1.1 Months-of-Inventory (429 listed, 394 sold). The last time we were even in the shadow of a month that started with a two on MOI was January 2021 (1.8). I had questions about mortgage rates and buyer fatigue slowing down closing velocity, but we were actually up YoY on deal count (the aforementioned 394 vs. 389 last year). It does appear that we are seeing a leveling-out on price appreciation; we’ll watch that as we move into the spring.
Our Mover’s Moving Index hit 216, a very healthy number for a winter month.