Despite the Heat, the Market Has Cooled

A clear look at what’s happening in our market and what it means for you.


Despite how busy this summer has been so far, the real estate market hasn’t been quite as hot as we’ve seen over the past 18 months. Things began to normalize around Memorial Day, likely due to the confluence of rising prices and interest rates. All sorts of experts and gurus have been sharing their thoughts on what’s going on and what to expect from the future, making it hard to be sure who you should believe. Today I’ll share the facts about what’s happening in our market to give you a more stable foundation on which to build your real estate plans.

Feel free to follow along in the video above or use the timestamps below to navigate our market update at your leisure:

0:00 — Introduction

1:38 — We saw significant growth in inventory in June

4:00 — Some neighborhoods always have limited inventory

5:43 — Why 35% of homes nationwide are taking price reductions before going under contract

7:05 — What a normalizing market means for home values

8:06 — Final thoughts

If you have any questions or concerns about what’s happening in the market, don’t hesitate to give me a call or send me an email. I’d love to hear from you.