September 09, 2022 at 1:29 pm PDT
According to NWMLS’s August statistical data, brokers added 9,914 new listings during August, a drop from the 11,805 added in July and the year-ago total of 11,437. “Many may not remember August is usually a slow month, because we were in a full-on sprint the last two years no matter which month it was,” said Jason Wall, a designated broker, owner at Lake & Company Real Estate and a member of the NWMLS board of directors. “This may just be an adjustment back to normal.”
The number of closed sales also declined from a year ago. NWMLS members reported 7,998 closed transactions in August, an approximately 24% drop from August 2021′s total of 10,571.
We didn’t have any inflation when Trump was in office
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As housing market cools, homebuyers regain leverageYears of soaring home prices and sharply higher mortgage rates remain hurdles for many would-be homebuyers, but new data shows that they're regaining some leverage at the negotiating table as the housing market slows.
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