The housing inventory data from last week makes me wonder if we are starting the seasonal decline in active listings in August. Mortgage rates also had a crazy week and purchase apps fell once again.

• Weekly active listings rose by only 2,939
• Mortgage rates went from 7.04% to 7.20% and back to 7.03%
• Purchase apps were down 3% from week to week

Weekly housing inventory

Traditionally, we would see a seasonal decline of active listings for single-family homes going into the fall, but seeing less than 3,000 homes added to the active listings data last week makes me wonder if we are details ⇒

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