The current market reminds me of those rare January beach days when we get sunny 80 degree days, a surprise swell from the south to warm the water, 5-6 ft waves, and offshore winds. This is one of those days in the real estate market. Prices have reached new highs, Inventory is low, and days on market is low. This is the ideal time to sell a property when prices are high and there is low inventory/competition.
Lowest inventory in two years
We can see on the chart below the Days On Market is also low due to all the buying activity.
XHB had some distribution days, and immediately followed by some accumulation days, but these did not push the price back up. Watch this chart to see what the big money is betting on. Bearish
That’s three for the Bulls and one for the Bears. So if you plan on timing the market and getting the most bang for your buck or most buck for your bang, read the charts. Feel free to contact me with any questions.