The Monday Minute is text only this week due to illness. ☹️ COVID got me, but I should be back in business with the video next week.
New listings are up, and inventory continues to climb as our market shifts out of the aggressive seller's market. New escrows were down this week, and the increase in mortgage interest rates last week will not help matters.
Price reductions are over 300 for the third week in a row, evidence that many sellers' homes are still priced for the market before the shift. Overpriced homes are not selling, and homes are definitely taking longer to sell.