Now's not the time to sit back and do nothing.
Although home prices have been sky-high for months on end, buyer demand has held relatively steady over the past few years. But in recent months, existing-home sales have been on a steady decline.
And in June, existing-home sales were down 5.4% compared to May and 14.2% compared to June of 2021, making a more significant drop, as per data from the National Association of Realtors (NAR).
Now to be clear, a drop in existing-home sales doesn't automatically indicate that buyer demand is waning. Rather, a big part of the reason home sales have been lower is that inventory has been lower. And, well, it's hard to sell more homes when there aren't many on the market.
