Here are the current Heartland MLS Stats (not much has changed since June!):
- Inventory is down, so prices are up.
- Homes are sitting a bit longer on the market due to higher interest rates and seasonal effects from school starting.
- Supply is overall still low. 4 to 6 months is considered a balanced market, and we are sitting at 1.7 months.
Homes are sitting a bit longer on market, and aggressively-priced homes are seeing price drops. Many people are feeling the pinch with increased taxes, higher rates, and higher prices, leading to a more cautious approach to decision making.
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