The market slowed during August. Sales were down roughly 15% from last month and 14% from last August. Sales are down 7% year-to-date. These sales numbers reflect the closings during the month so most of the contracts were written in July. The contract activity as measured by the number of homes that went under contract during the month continued to slide in August. The inventory of available homes continues to be low. The fall in activity and the low inventory keep the overall market in the sellers favor.
We usually see a nice surge of activity in September and October before slowing again for the holidays. The slideshow below includes more data and charts regarding the market.
