Market Analysis for July, 2023

Despite rising interest rates and a sales-to-listings ratio below 30%, both of which would normally cool prices, prices have held steady since the beginning of June.

These conditions are eerily similar to the months before the crash of 1989/90, which preceded a six-year decline in prices. Amazingly, even if we experience a drop of 30-40%, prices would still be ahead of inflation over the last five years.

Want to know more about the state of the market? Just ask me, I'll be happy to help.