Last week, we saw here how the number of July sales has been plummeting, and with three days to go in the month, we are now at 119 NSDCC sales – which means we will end up with around 40% to 50% of last year’s July sales.
We also hear about how inventory is rapidly rising in other areas of the country. How are we doing here?
Here are the recent monthly counts of NSDCC July listings:
2022: 215 so far.
The NSDCC sales really aren’t bad, considering how few new listings are coming to market.
There is a bit of a backlog of sellers hoping to get lucky, but they will likely cancel their listing in the next month or two and try again next year, rather than give it away.
Between now and February, there will probably be months when we don’t reach 100 NSDCC sales, and it will be because there won’t be enough homes available to sell!
The Fed did their thing, bumping by 0.75%:
The Fed’s decision was “very much in line with expectations,” said Matthew Luzzetti, the chief U.S. economist at Deutsche Bank. The only “surprise,” he added, was that Esther George, the President of the Federal Reserve Bank of Kansas City did not dissent against the decision, as she did during the June meeting: “It shows that there was broad-based support, basically unanimous support among voters for another 75 basis point move,” Luzzetti said.