We are looking at the black line here for this years data (2023).  Let's note this is the point in previous years where new listings started their decline.  If we want to see a breather in home prices then this trend will need to change.  Seasonality-wise we are in the usual part of the year where we slow down, so, a trend change now is not something I would expect.  I talk about the 10yr yield a lot and it hasn't done what I thought...yet.  We can see the effects of this in the mortgage rates climbing higher still.  The thing is I understand that what I expect to happen, doesn't always happen immediately.  There are a vast amount of factors at play and I will continue to track them every week and guide accordingly.  With that said, I had a few really good conversations with buyers at the open house I hosted this weekend.  It was refreshing to hear them talk through the current circumstances they are facing in the market.  They understand the most likely scenario if we do see that drop in mortgage rates we've been waiting for.  Higher home prices and more competition.  Right now is an opportunity.

Check out the flyer below!  This Ice Cream Social is open to everyone!  I hope to see you there.