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Some Inventory Continues to Increase!
According to realtor.com, the number of homes for sale continues to accumulate, but inventory is still not back to pre-pandemic norms.
There were 36.6% more homes actively for sale on any given day in July compared to last year. This marks the ninth consecutive month of inventory growth. While inventory has improved compared with the previous three years, it is still down 30.6% compared to 2017 to 2019 levels.
In Baltimore, homebuyers are finding more options but inventory is still tight. The number of active listings in July jumped 30.2% compared to a year ago.
In Northern Virginia, prices continue to increase but buyers today are seeing small shifts as inventory grows.
Metro DC has experienced its sixth month of inventory gains. Buyers are acting quickly with half of all homes sold in July were on the market eight days or less.
For more detailed information on July market stats, click on the local markets below.
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