The fall real estate market seems to be slowing down more than expected rather than gaining momentum for 2019. Sales were down over 9% in November and are down 3.5% for the year. The signs that point me to a larger slowdown (not just seasonal) are; increasing inventory, lowest under contract percentage in five years and more obviously slower recent sales.
We will need to wait until January and February to see if a real shift has occurred in the market. This is when we start to see new buyers come out and deplete the existing inventory. Stay tuned and Happy Holidays!
The embedded report below has more analysis and graphs.
