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July 2022 Market Update – Tom’s Take 285

Philadelphia area homeowners, do you want to know what happened in the housing market this past month?
The number one question that everyone asks…how’s the market?
The market is constantly moving.
I put together a breakdown of what happened in Philadelphia, Montgomery County, Chester County and Delaware County through the first half of the year and into the third quarter.
All the stats and what it means for the people that are thinking about transacting, whether it’s buying or selling right now or over the next 18 to 24 months.
Inventory is rising.
Sellers, if you’re thinking about making a move I’d look at accelerating that time frame so that you can take advantage of these lower inventory competitive situations.
The best time for you to have your home on the market is when the neighbors don’t.
For buyers, as inventory rises you’ve got more choices on the market than you’ve had in a very long time and rates came back in your favor.
If you’re thinking about a real estate decision in the next three, six, nine or 12 months, reach out and get some expert advice.

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