And just like that, summer is officially over. We are starting to have cooler days, and decorative pumpkins are everywhere! The month of October is packed full of fun and family-friendly events, so be sure to check our link to events below. Be sure you don’t miss the 32nd annual Home Builders Parade of Homes taking place October 10th through the 13th.
In real estate news, we continue to see an increase in inventory. As of the close of August, residential inventory was up by 51%, and land inventory was up by 24%. Sales have also slowed down, evidenced by an increase in the number of days on the market, now averaging a 29% increase over last year, and a decrease in the number of under-contract properties, down overall by 20%. These statistics are not a surprise as we expect many buyers have been waiting for interest rates to go down.