According to the S&P CoreLogic Case Shiller Index, home prices grew 14% year-over-year. Even though the monthly growth rate may be slowing, home price growth is still happening. It is estimated that there is now 10.9 months of inventory based on the last existing home sales report. The National Association of Realtors is reporting that 82% of active listings are still being sold within a month of being listed. This is a much higher percentage than what we saw pre-COVID-19, but homes are lasting longer than the beginning of 2022.
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