A spike in listings & sitting on the market

Abstract

That's what so many housing markets across the country are experiencing right now. It's taking longer to sell: I think this is a helpful way to show market change. We are still not back to a normal days on market, but that can happen quickly. As I've said, we've waived goodbye to the most aggressive market ever. My advice? Recognize hot stats from previous months, but don't ignore slower metrics right now with fewer offers, increasing days on market, dropping sales volume, more price reductions, etc. Sales in May really tell us what the market used to be like in April when these properties got into contract. Questions: What are you seeing out there in the market? What did I miss? I'd love to hear your take.