Late summer is a slow time of year. Kids are just starting school and therefore families who wanted to move before school started are all in place. Often we see a surge in the market after Labor Day. Since we are seeing volatility in the sales numbers, it’s hard to put too much weight into any individual month. We are continuing to see houses stay on the market longer and fewer active buyers looking at homes. This mirrors a national trend.
Sales during July were up 15% over the same month last year. This brings the year-to-date sales total to 2% above last year. Inventory is still higher than at any time since 2014. We are seeing a large number of price reductions. This goes hand-in-hand with longer days-on-the-market.
Please let me know if you have any questions.
Enjoy-the-report. 🙂
