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July 17, 2022 Market Update

Sunday, July 17, 2022   /   by Bryan Baylon

July 17, 2022 Market Update

The listing success rate is one of the simplest yet most revealing of measurement tools for the housing market. Here is the most recent weekly chart for all areas & types.
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We can see how 2022 was tracking very close to 2021 until it started losing height in May. The success rate has deteriorated quickly in June and July and now stands at 78.2%. The trend is downward with strong momentum.

We included 2005 for comparison and although the success rate deteriorated during the second half of the that year, it took longer to get back to the long-term average of about 67%.

Based on the current rate of decline we are only 3 or 4 weeks away from hitting that 67% milestone. At that point roughly one in three listings will fail to sell.

Market incites provided by the Cromford report.
Keller Williams Northeast Realty - The Baylon Group
Bryan Baylon
2005 W. Happy Valley Rd #150
Phoenix, AZ 85085

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