Here are the latest highlights of the Capital Region real estate numbers, as released by the Greater Capital Association of Realtors. These numbers were released at the end of May and reflect the most recent reported sales data in 2014 (from the month of April). Interestingly pending sales and home prices declined, as did inventory from April 2013.

The biggest challenge to this housing market is the lack of inventory. I’ve had the pleasure of working with dozens of buyers year to date, and our biggest challenge has been finding suitable inventory to meet their needs. While most sellers usually are ready to list their homes by June, the long, hard winter has likely set back sellers (and their home repairs). We could run the risk of sellers pushing off listing until the fall or even next year, which will surely put a squeeze on inventory. We’ll be watching May’s numbers when they are released later this month to see what happens to inventory, prices, and sales.

Below is the latest video. As always, if you have any questions just call.