Here’s what CCAR President Amy Wells had to say about the October market:
“We’re seeing a bit of a settling in the market as the summer and fall selling season wraps up. To some extent, this is expected, and we will really need to see the year end numbers after December to make any clear pronouncements about where the market could be headed.
One thing that is different this year compared to the past though is how steady inventory has been. We have ended the last three months – August, September, and October, with 3.6 months of inventory on the market in each month. In 2023 and 2024, we saw more noticeable fluctuations from month to month. This is partly explained by the increase in total market time – listings on average are taking longer to move – and that there has been more listings on the market all year long than in the prior two years.
It remains to be seen how the rest of the year plays out. Lower interest rates may bring some relief, but that could be counter-balanced by economic uncertainty due to a variety of factors heading into year end. Having a knowledgeable, professional REALTOR® by your side is more invaluable than ever to help you navigate an uncertain and ever-changing market.”
As part of your CCAR and RMLS memberships you receive access to monthly market action reports from RMLS. CCAR condenses these market reports down into sharable graphics that you are encouraged to download and share with your clients, or share on your social media accounts.
Simply click an image in the below to download it.
