New listings coming on the market are outpacing sales

by | Aug 1, 2022 | Market Conditions

Inventories are increasing. An interesting factor is the number of homes reducing their asking price, a prelude to lower prices in general. Values are up approximately 18% for the year. Days on the market remain unchanged, good properties still sell fast. Overall total of pending and contingent sales has remained consistent all year. Mortgage rates are just under 5% for a 30 year loan.