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Price Adjustments and the 2023 Market

Lamacchia Realty

PRICE ADJUSTMENTS AND THE 2023 MARKET In March 2022, it was clear that the market was changing from a frenzied post-pandemic scene to one where it was assumed that rising mortgage rates would slow it down and help inventory finally rise back up. 2018 and 2019 depict the paths of what was a ‘typical’ market prior to the pandemic.

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Price Adjustments in this New Housing Market

Lamacchia Realty

As you can see in the chart below, the red line indicates that 2022 began with the highest absorption rate of available inventory in the past 4 years but over the past 8 weeks has dropped to right around the same rate or lower than last year and we expect it to be going down more. Consider the Price Brackets. See chart below.