Midyear Market Update

Good News

• Housing is normalizing after two unprecedented "unicorn years"

• Return of seasonality is a welcome sign

• Prices are rebounding

• Buyers are active as housing is normalizing

Reality Check

• Homeowners have limited options between rates & inventory

• New listings are still declining

• Affordability remains the primary challenge

Outlook

• New construction is growing, offering more options for buyers and sellers

• Expect a moderately active summer season

• With rebounding prices, homeowners ready to move are in a solid position