Real Estate and Construction: Finally leveling off

By Jeff McDanald

After two years of record-breaking real estate sales, the housing market appears to be leveling off and headed back toward the pre-pandemic levels of 2019—despite the increase in mortgage rates.

Regional housing inventory is on the rise as builders respond to the demand for new and renovated properties. The number of homes on the market rose 8% through the first two quarters of 2022 over last year’s numbers as interest rates crept up.

Despite the inventory uptick, homes have sold faster this year than last year, with properties remaining on the market an average of 21 days

Read more