One of the interesting aspects of our market is that prices continue to rise in 2023 even though buyer activity is down significantly from each of the previous two years. As the chart below shows, showings are down by 23% compared to the first 6 months of 2022, and down by 32% compared to first half of 2021.
Another trend the chart makes clear is that there is usually a seasonal aspect to buyer activity. Typically, showings peak in the springtime and then subside in the summertime and throughout the remainder of the year.
Buyers and sellers should be aware of these changes as we enter the summer season. Showings will decrease in July and August, for sure. Bidding wars will be less common. And we'll see fewer buyers writing offers that waive
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