The 22% YoY increase in the number of actives (unsolds) is alarming enough.

But let’s consider how the market has changed over the last two years:

The reason we survived the doubling of mortgage rates in 2022 was because there were so few homes for sale. In August, 2023, the ratio of actives-to-pendings was a healthy 2:1, where today the ratio is getting closer to 4:1.

Nobody seems to care, and I doubt many even notice the differences. Agents will tell you that “it just takes longer now” and the market will pick up once Powell lowers the rates (which probably isn’t going to happen).

Everything about selling homes is tougher today, and there is no margin for error.

Get Good Help!