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November 15, 2022 Market Update

Tuesday, November 15, 2022   /   by Bryan Baylon

November 15, 2022 Market Update

We all know that demand is extremely low at the moment so you could be forgiven for thinking this would lead to a pile up of unsold active listings. It may therefore surprise you to learn that the active listing counts are now in a declining trend. It seems that sellers are even more discouraged than buyers and new listings are coming to market too slowly to meet demand.

This time of year we usually see active listings fairly stable followed by a decline between Thanksgiving and the end of the year. In 2022, the decline has started early and the numbers are falling at a faster rate than usual. We are going through unusual times, so I would hesitate to read too much into this, but for those looking for silver linings, this is a good one. It is something that should limit the downside risk to home prices.

Market insights 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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