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