Inventory (down 3% overall) and homes under contract (down 11%) are down week over week as we head into fall. With inventory still tight across many of the price points, this is indicative of a seasonal cycle as summer traffic falls off slightly going into Labor Day weekend. August has been unusually strong, so a week over week dip isn’t alarming. It’s important to stay on top of traffic and make quick adjustments if offers aren’t coming in quickly.
