I’m not the only one talking about it now….
We are seeing a shift.
This marks two consecutive months of price drops. If you consult the historic data here, you can see that it isn’t out of the ordinary for prices to dip from June to July. The price dips are not the metric I find most interesting. Outside of our huge jump in inventory (we can get into that in the weekly inventory update), I’m most interested in the fact that homes are selling for closer to their list price than they have since January 2018 and January 2017. When we combine two months of small price declines, along with more inventory and flat number of total homes sold, we see strong indicators for a balancing market.