As we look back at the first 3 quarters of 2023 compared to recent years, the Bear Trap real estate market slowed considerably. Even as interest rates rose to levels that we have not experienced in more than 20 years, the primary factor that contributed to the slowdown was the continuation of inventory shortages.
Last Fall, we experienced a slight uptick in inventory, but as the chart illustrates, that has not been the case so far this year. Inventory in Bear Trap was down 40% on October 1 of 2023 when compared to the same day in 2022.
History tells us that real estate as a long term investment is very strong and the ability to have immediate use and enjoyment of a home asset is something that we hear often from buyers, especially in today’s
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