Each year, mid-summer around fair time, our real estate market cools off. For over 5 years now, real estate sales in summer have been seasonally slow. Y’all are either at the fair or on vacation! This year, high interest rates and increasing inventory are indications of a market shift. We have fewer buyers entering the market & forfeiting their 3% interest rate. Demographically speaking, we are seeing downsizers & first time home buyers. Our “move up market” is not moving. With the increasing inventory and less buyers in the marketplace, price reductions are becoming the norm. Sellers are offering more concessions to entice buyers. Every indication points to a buyer’s market moving forward. However, it is an election year with wild cards at play. The real estate market is always dynamic, that’s why I love it! 🥰 Our team is here to guide you through the changes and transitions.