Transcript:
Hi there, everyone. It’s increasingly evident that the flurry of activity seen in the first three months of 2021 has markedly subsided, both for the number of new listings and sales. In July, the number of new listings showed a decline of 35% from last year and 33% from this past June. At the same time, number of sales were also lower by 18% from last year and 12% from June of this year. Yes, we have seen a bit of softening in the prices, down by 2% from a month ago, but we are still 21% higher from the same time last year. What is interesting to note is there were 257 new listings and 246 sales in the month of July, which is almost one-to-one ratio, giving us less than one month’s of inventory on the market. It is this tight supply of available homes for sale that I feel is going to push the prices up again. You guys take care and talk soon.