While this market has been in no way typical the last seven months or so, one year to year trend that did seem to stay true to form was a slow August.
Summer often gets the reputation as the hottest time in real estate, August typically sees a slowdown. Everyone is getting in their last vacation before school starts, work starts to pick up and the weather cools down, and therefore are less focused on moving. And while the reasons may vary this year this trend still rings true.
Active listings saw a decrease of 8.3% with 3,885 new homes to the market and an inventory of 1.3 (just slightly higher than the month prior). Meaning, while meeting current buyer demand, if we were to have no new homes come on the market we would be out of properties in just 1.3 months.
