Great news national and local home sales are cooling down a bit.

And that’s good news.  We could sustain the craziness of the last few years for much longer.

Nationally:

According to NAR June, 2022 brought 5.12 million in sales, a median sales price of $416,000, and 3.0 months of inventory. The median sales price is up 13.4% year-over-year, and inventory was up 0.5 months from June 2021.

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Locally the numbers are similar for June 2022:

What does the change mean?

We’re heading toward a more balanced market- although we’re not there yet.  However many sellers are seeing the change and lowering listing prices.  Rising interest rates and back-to-school activities are also impacting buyer interest.

Review your pricing strategy with your Realtor®  to ensure a quick sale.