Selling

After posting gains this summer, for-sale inventory levels stalled in August growing at a fraction of the rate seen in recent months as sellers are more frequently choosing to remain in their homes instead of moving. 

First American Financial Corporation has released the First American’s proprietary Potential Home Sales Model for the month of August 2022.

“Demand is weakening on purchase loan applications by about 20%, and new construction is dropping in price as well as existing leases —these are the numbers that really make a difference,” said Tesch. “That’s the reality; we’ve seen numbers way ahead of the norm, which would lead all of us