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AttackonRetail t1_je4j8s8 wrote

Reply to comment by fishythepete in Would you buy a house in RI right now? Why or why not? by TransitionSea9480

But how does inventory look?

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fishythepete t1_je4piln wrote

Based on slowing sales, it looks better than it did this time last year relative to demand.

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BingBong022 t1_je5svtf wrote

False inventory is down because nobody is selling lol, the prices of all my properties have increased from last year

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fishythepete t1_je61rtp wrote

>False inventory is down because nobody is selling

it looks better than it did this time last year relative to demand.

Bolded it for you to help you figure out what you missed. Inventory changes don’t happen in a vacuum. They happen against a backdrop of changes like rising interest rates and economic concerns.

>the prices of all my properties have increased from last year

Congrats, you had the good luck to live close to a few major markets and not bumfuck Indiana. The median existing-home sales price was down 0.2% to $363,000 in February compared to a year ago. This is the first drop that has happened in 11 years. If you think it is an isolated event, you might want to chart some NAR data, because you clearly can’t see which way the wind is blowing.

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BingBong022 t1_je655xo wrote

Lol

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[deleted] t1_je65cys wrote

[removed]

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AttackonRetail t1_je6ephg wrote

Aren't we only talking about RI relevant data? Are you using national averages?

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fishythepete t1_je6wkum wrote

Are you under the impression that RI is some unique real estate microcosm that would insulate it from the national average?

National average data is absolutely relevant to RI.

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