It’s definitely a continuation from last month in that calming inflation is at the forefront. It’s going to take some work to get it down as the rates have not relaxed, as you’ll see by clicking the link below. In the Midwest we continue to experience record low inventory and now that buyer demand has cooled, it’s resulting is less closings and increased days on market. Buyers and sellers are getting creative with financing options to off-set the rising interest rates resulting in rate buy-downs and seller financing options.
The number of home sales for 2023 is predicted to mirror 2006 – likely less than 4.6 million.