Housing Stats for October 2022

"October sales eased to the lowest levels reported for the month since 2017 as higher lending rates and a weaker employment market in the area continue to weigh on demand. However, recent pullbacks in sales have not entirely erased early gains in sales, as year-to-date sales remained comparable to last years levels. Nonetheless recent pullbacks in sales have not been met with the same level of supply adjustment causing the months of supply to remain elevated for the third consecutive month. "