Going into the back end of 2023, we will experience seasonality (something we didn't feel as much for the last three years due to Fed induced low interest rates) in the real estate sales market.

It'll be more important than ever for real estate agents to:

1) grow their database and generate organic business,

2) develop a wealth plan for their spending, and

3) put themselves in an environment around other high-energy and passionate entrepreneurs who are building for the long-term.

NEFAR Market Stats:

Here's the stats:

Closed sales are down 10.6% YoY and down 19.8% MoM from June

Pending sales are up 16.3% YoY and up 5.1% MoM from June

Affordability Index is down to 65 due to interest rates moving up.

Days on market are stand at 34 days

Active inventory of single family homes are up 42.3% from this time last year with a months supply of inventory of 2.7.

Data according to NEFAR Market Statistics for single family homes in July 2023's Market Review Report.

A bright spot is certainly that pending home sales are looking positive along with prices holding up due to limited supply, though to counterbalance we are still seeing a fall-through rate of 20-30% of homes locally in Northeast Florida.

This is a market of the skillest and those who are stepping into it are growing their business #movewithmomentum #momentumrealty