In May, I wrote about the signs to watch for a real estate market slowdown. It’s now October, we’ve had the biggest spike in mortgage rates we’ve seen in decades, and all the signs of a slowdown are here: Inventory is rising. The price of new listings is dropping. More homes are taking price reductions. And, there are fewer immediate sales.

Of course, some of what we’re seeing is exacerbated by seasonality — prices normally retreat in the fall, and there’s much less activity over the winter. But it’s clear that the dramatic shift in the details ⇒

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