In a nutshell, the real estate market is fine. 

Sure, it's not moving quite as fast as it was a couple of months ago, but that's actually a good thing.

Even though interest rates have changed a lot this year - they have gone down in the last few weeks. Higher interest rates certainly affect affordability and possibly demand.

Not to mention inflation is a major bummer right now. Everything costs more and everyone’s budget is taking a beating.

But when we look at July sales data and compare it to June numbers, I really think the biggest impact on sales was summer.

Pre-pandemic we typically slowed down during the summer. Actually the slowdown often begins mid May with Mother’s Day and graduation.

June is a very busy month in Des Moines with events, farmers markets, festivals, and lovely warm weather.

July is generally slower than June, and August (just so you know for next month!) is the slowest month of summer. The Iowa State Fair is a major event (and major distraction!) for 10 days, then you’ve got end of summer vacations, back to school, and it’s usually too hot to even think about going outside.

Anyway, all this to say that we did see fewer sales in July than in June. But a NORMAL amount less. Not a “sky is falling” or the “market is crashing” amount.

You can watch the full market update video below (or read the transcript HERE.)