The rainy weather during the week of August 10th has really slowed down real estate activity across Central Ohio. Showings have dropped noticeably, and we’re also seeing fewer strong offers coming in.
The weather isn’t the only factor. Buyers are being more selective, and mortgage rates moved back into the upper-6% range this week. Nationally, July existing-home sales declined 1.7%, another indication that buyers are responding to affordability pressures.
The good news? Columbus remains a competitive market, and this feels more like a temporary slowdown than buyers disappearing altogether. Hopefully we get some sunshine, buyers get back out looking, and activity boomerangs heading toward the fall market.
What’s the real estate market like in your area? Are you seeing the same slowdown?
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