September is pretty much the same as August. Overall there are a few more listings than in the past, but it is still a thin market. Buyers are still competing in multiple offers.
Demand is still strong due to 4 factors:
- Affordable mortgage rates – interest is still under 4.5% on a 30 year mortgage
- Good home prices – Home prices are still recovering
- Improving labor market – strengthens buyer confidence
- Rising rents – making it more affordable to purchase rather than rent
You can watch the whole skinny video below, or you can play with stats on this website:
The Thing
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