Transactions in October were down a whopping 36% vs October of 2021. The market has slowed significantly and yet, prices remain steady. The supply and demand balance has not shifted much and inventory remains relatively tight as the number of new listings coming on the market has also decreased. Mortgage rates are expected to continue to increase as the Fed raised its rates again and more increases are anticipated in the future. In this episode, Alex shares an overview of the numbers and gives some perspective on how he is advising buyers and sellers in the current market.
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