This is mainly due to the large amount of inventory and still high prices (though they are trending downwards).

The inventory of homes within this bracket is virtually fixed.Prices and rents are determined by demand, which is driven by population growth.

Rising inventory levels are expected to keep price growth subdued.

We had a 2.5 months of inventory in September 2024 that is up from a 1.5 months supply of inventory back in February 2024.

**Not sure if this graph loaded properly**  The main factor leading to the drop in multifamily sales prices could be the increase in inventory (33%) in 2024 compared to last year. 

The IRS views the houses as inventory.

Please feel free to connect and we can set up a time to talk further and get you our off market inventory of New Construction investment properties, in multiple markets.Best of luck

Local Economic Indicators: Monitor local employment rates, population growth, and housing inventory to time your deals correctly.

These agents have access to a large inventory of bank-owned properties and can provide valuable insights into the local market.If you follow these steps, you'll be well on your way to successfully fixing and flipping REO properties.

Here's the latest market report (based on single family homes): Mortgage Rates:30-year conventional rate today is 6.61%30-year VA rate today is 6.14% Median Sales Price:July: $487,483August: $480,000Sept: $490,000 New Listings:July: 2,068August: 2,198Sept: 1,910 Median Days on Market Until Sale:July: 14August: 16Sept: 20 Months Supply of Inventory:July: 2.8August: 3.1Sept: 3.1 What does "Months Supply of Inventory" mean?