“For the first time in 2023, monthly sales and transaction volume not only exceeded levels from one year ago but were markedly higher than August ‘22 figures, a trend we anticipate will continue into September. Despite the boost in monthly volume, year-to-date totals trailed 2022 figures by 30 percent in dollar volume and 33 percent in transaction volume. Similar to July’s activity, nearly 30 percent of August transactions occurred at full or above full asking price, and only one sale took place for less than 90 percent of the original asking price. This illustrates that buyer demand continues to be strong even with current mortgage rates above seven percent. We shall see what the fall market brings!”

Here are Fisher’s August market insights from Jennifer Shalley Allen…