09/11/2023
π’β¨ Last week, we witnessed a fascinating twist in the inventory game, and it's all tied to the holiday vibes! ππ
π While housing inventory growth slowed down noticeably, let's not jump to conclusions just yet. I believe this dip has more to do with the holiday week than a long-term trend. π₯π
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Here's the recap you've been waiting for:
πΉ Active inventory increased by a solid 3,180 homes in just one week! ππ₯
πΉ New listing data took a slight dip, but worry not, it's still trending at an all-time low for 2023. π
πΉ Mortgage rates experienced a pleasant drop, thanks to the resolution of debt ceiling issues. π°π
πΉ However, higher rates continued to impact purchase application data, showing a negative trend for the third consecutive week. π
The good news is , weβve also witnessed some traditional spring inventory growth amidst these challenging times. π·π
π€ Curious about the market's future direction? Looking to explore new opportunities? Let's connect and navigate this dynamic housing landscape together! ππΊοΈ