As we close out July, we see a drop (-15%) in new listings and an increase (9.25%) in months of supply since last week’s report.
In simple terms we are seeing the seasonal slowdown in new properties being offered for sale and a slower pace of sales for those on the market.
Are you a buyer looking for a deal? This might very well be a good time for you to strike before the fall upswing.
Happy house hunting. Let us know how we may help.
Matt Cheney
Cheney & Co. at Compass
m: 202.465.0707