I performed some detailed analysis of our real estate market through the first 7 months of the year this last week looking at 3 key metrics-
New Listings-down a cumulative 2,408 this year
Under Contracts-down a cumulative 31 this year
Solds-down a cumulative 1,116 this year
It's not surprising to see Solds down when New Listings are down even more. But, I was surprised to see that Under Contracts or Pendings have barely changed this year. Thus, I expect our market will continue "to catch up" this month with both new listings and solds.
The $64k Question is will our real estate market continue to see strong growth in these 3 key metrics in September? I believe it will due to record low mortgage rates; but there is a Wild Card coming in < 90 days-the election which has people on both sides of the aisle concerned.