Transactions are down. That’s been common this year vs last year, but in July, they were down more than normal (26% in Davidson, 33% in Williamson). As expected, prices are up vs. last year but essentially flat relative to the last few months, indicating some stability in the market. Supply and demand continues to gradually trend toward being more balanced but demand still far exceeds supply. We’re almost back to 2019 levels of inventory, which at the time was a historically tight market.
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