Better, but not good. Or maybe, hard, but not as hard. Both describe the local market according to August 2022 MLS data. We posted 2 months of inventory on 1056 listings and 527 sales. Compare that to 678 listings and 608 sales last year. Take a closer look at that last number. We closed fewer deals this year than last year in August, despite having much more inventory (well, comparatively.) Thanks a lot, interest rates! The sense I get is, “we’d love to sell at these prices, but what are we going to buy? And why raise my effective mortgage rate by 75%…”
Our Mover’s Moving Index posted a respectable summer number of 204. Still lots of folks planning for the future.