The Market in a Minute! July 2022 (Copy)
Warning: slow summer ahead
Sales down 41% year-over-year
Average price up 5% YEAR-OVER-YEAR
Volume of listings is up. Homes are selling, just not with the same kind of frenzy as before. Rate hikes have buyers backing off. Rental market: rents are up, competition is fierce. So what does it all mean?
For BUYERS, now is an excellent time to buy. In most cases, YOU'LL face less competition and have much more choice than YOU'VE had in years. It’s also a great time to buy an investment property. Sellers who are buying up stand to come out farther ahead because more expensive homes are dropping more in price than those in lower price points.
