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.
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