July 2024

July is a sizzling hot month for real estate, buzzing with excitement and patriotic flair! With fireworks still sparkling in the sky from Independence Day celebrations, the property market is just as electrifying. Families are out in full force, eager to find their dream homes before the new school year, while sellers are sprucing up their listings to attract enthusiastic buyers. It's a time of open houses and neighborhood barbecues, where the American dream of homeownership feels more vibrant than ever.

Whether you're hunting for that perfect city loft or a cozy suburban nest, July offers a star-spangled mix of opportunities and fun in the real estate world.

“It doesn’t mean necessarily that new construction has ramped up,” said Robert Dietz, chief economist of the National Association of Home Builders. Homebuilders are still constructing about 1 million single-family homes a year, he said.

“What’s happened is that the level of resale inventory has shrunk,” Dietz said.

Courtesy of CNBC