Third Quarter 2022 Market Watch
Year to date, each of our markets has experienced lower single family housing units and dollar volume closed than the first nine months of last year. After a two-year period of exceedingly robust sales activity from 2020 to 2021, a surface level analysis may suggest the markets have taken a turn. But as we have frequently discussed, within that two-year period was one of the most productive real estate markets of our lifetimes. If 2021 was the best performing market in recent memory, and 2020 kicked off this unprecedented period with the onset of the pandemic, then the last market we saw that can be considered normal was in 2019. Using 2019 as a benchmark shows how far ahead of a normal market we still are. The conclusions we’ve drawn point to ongoing buyer demand and a strong fall real estate market.
For our full analysis, please read our Third Quarter Market Watch.