It's the last day of the first half of the year! Wow!
As such, I've taken a moment to look at contract activity in the first half of 2023 as compared to the first half of each of the nine years prior to 2023.
As you can see, above, contract activity (buyers and sellers signing contracts) has been quite slow this year compared to every other year since 2014.
One significant reason for this decline in contract activity is the decline in homes being listed for sale. Fewer sellers want to sell which is giving fewer buyers the opportunity to buy.
Will we see contract activity ramp up in the second half of 2023?
Maybe.
But it will have to start with sellers being willing to sell.
There are plenty of buyers ready to buy -- but not quite as many sellers willing to sell.
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