This is the FULL HAR Data for September 2022.
Inventory is still technically in a "shortage" with a 2.7 month supply but it's up more than 50% from last year's 1.7 month supply. The issue were seeing is that transaction counts are still down a little bit because interest rates are dampening demand.
Active listing volume is way up year over year of course as things are sitting for a little longer now as opposed to last year where everything seemed to be done in 3-5 days of negotiations with 10+ offers.
Silver lining for equity is that the values of homes are up 11.6% to 414,776, but of course that is also a double edged sword with the the higher prices combining with higher than desirable interest rates.
What's the lesson here for all of us?
Everything changes all the time, and we need
only to pay attention, and get involved
when it makes sense to do so. Despite all of our changes, you can see we still had more than 7,300 properties change hands last month.
Some portion of the population will always
need to move, so whether you're a buyer or a seller,
you will never struggle to find people
to play the game with you.
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The Only Constant in Life...is Change.
- Heraclitus