Franklin Monthly Real Estate Recap: March 2024
--- Visit Erika's Links --- It's that time of year -- Spring is here and our Real Estate market is in full bloom. Sooooo full that we have more homes hitting the market nationwide than we've had in at least 2 years. Locally, it's popping like popcorn. I've noticed a significant increase in Buyer and Seller activity in my personal business. Housingwire Data shows there are 24% more homes on the market nationwide this week than a year ago, and 102% more homes on the market than 2 years ago! In a typical market, where inventory weren't already so low, this would likely spell trouble. Before anyone starts getting too excited or nervous, look at the lines above the red 2024 line in this graph. 2020, 2019, 2018 and 2017 still had significantly higher inventory. Sure, homes were more affordable and mortgage interest rates were in the 3%-5% brackets back then. But what we are seeing right now, at the end of March 2024, is not only an increase in inventory, but also an
