Inventory reversed trend this week and contracted. An unusual development given this is the traditional real estate high season for selling but most likely explained by sellers taking a wait and see approach after all the banking turmoil.
On a positive note, mortgage rates have been adjusting down for the past four weeks and many buyers have rates in the 5%s available to them.
Have any questions about what is happening in your neighborhood?
Let us know, we are here for you.
Matt Cheney
Washington Fine Properties
M: 202-465-0707
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