13 Jun July 2023 Housing Report
Please take a peek at the July 2023 housing report. You can find the full blog post using this link or as always, you can view the chart, number heavy option here.
As most will quickly notice, the continuously popular Median Sales Price metric remained fairly flat compared to this same time a year ago. The compression in the pricing scale we have previously discussed is still absolutely taking place, but the uptick in pricing will capture the main headline. Following the other noticeable trend from 30 days ago, the months supply has increased yet again. Look, I 100% understand that the 2.3 months supply figure indicates a sellers’ market as stated in the blog; however, we are now at a level that has not been seen since 2020. To me, that is worth noting. Also, the fact that overall inventory is down 10.4% from last year while the supply is increasing shows a major decline in a buyers’ appetite.
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