Housing Inventory Drops; Mortgage Rates Rise

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Single Family Homes (SFH)
SFH inventory did not have the usual early summer bump this year and is now running 25% below last year’s level:


Condos
Condo inventory is een more depressed and is now 1/3 lower thn it was in 2022:
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Latest New Listings and Inventory update

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Salem, at least, has a reasonable number of New Listings (the state of inventory is shown later in this article, as is my annual guide to property tax rates).

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Latest list of properties for sale

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New listings are seeing tremendous competition, and inventory is way down compared with a year ago. Buyers need to look at the list of all available properties as sometimes properties get overlooked for no obvious reason. Here is the summary of current inventory:

Housing inventory (more…)