“Are you seeing any softening in the market?” The answer is yes, but it’s not necessarily a bad thing…it’s helping bring a little more balance to an overheated Seller’s market. Higher interest rates and lower consumer confidence from inflation and a volatile stock market are contributing to a pause for some Buyers. Many of whom are either fatigued from losing out so many times or just finding their diminishing Buying power from higher rates puts their dream home just out of reach.
So while inventory is still down, there are more opportunities to buy than in the previous few months. Instead of 30 offers, properties may now only see 5-10, giving hope to some weary yet persistent Buyers.
If you haven’t been to Locust in 12 South, do yourself a favor and book a table. We returned for our second visit recently and it’s really one of our top 5 spots in town. Dumplings with chili oil and the beef tartare (either with or without caviar) are not to be missed.
The caviar option was not available on our last visit, so we decided to give it a whirl this trip.
I know May is usually a crazy-packed time for all of us, so I’ll be brief and sign off.
I hope to see you around soon, and until then, stay safe and healthy!