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- Average sales price was up 11%.
- The inventory of homes available for sale remained relatively flat. Active listings were down 30%, which was offset by fewer closed sales (due to the lack of available inventory).
- Volume of closed sales was down 39%, and pending sales were down 32%.
- Interest rates are up ~.5% compared to ’23.
- Inventory remains challenging, sitting at a ~1.5 months supply of homes for sale.
Inventory levels of a 4 – 6 months’ supply is considered balanced, so there is still a long way to go.
