If you are looking to buy a home right now you might be noticing that the number of homes for sale is particularly low for July. Last July there are about 10,094 homes on the market in the 7 county metro area. This July there are 7,042 about 30% fewer.
Real estate is seasonal. The dips on the chart are the winter and the peaks are in the summer. We are in a peak month right now.
There is a 1.7. month supply of homes for sale right now. Affordable houses are particularly scarce as the lack of supply continues to drive prices up.