Cache County Home Sales broke the century mark in May for the first time this year. If you don’t count the artificially stimulated May sales of 2010, this is also the first time more than a hundred homes have sold during May since 2008.
The 108 residential home sales represent a 32.4% increase from April, and a 13% increase from May of 2012.
One thing preventing rapid price appreciation despite the increase in sales is that real estate inventory in Cache County is also increasing. The supply of newly listed homes for sale is helping to meet the increase in demand. Right now there are 691 residential listings found on the MLS. This is an 6.5% increase from a month ago, and puts us at about the same level we saw in June of last year. While mortgage interest rates are still incredibly low, we are starting to see a slight rise in rates which is motivating many potential buyers to begin the house hunting process.