Demand is Flat, why does it feel slower?

I was talking to a broker yesterday, and he said, “It’s SO SLOW.”I thought, It does feel slower—but why?

After all, demand is flat compared to last year. Granted, last year was already slow, but this feels even slower.

That’s when it hit me:We have 2,251 more active listings—chasing the same amount of demand.In the past 31 days, there have been just 2,504 contracts.

So far, prices have been holding up.
But it feels like June could be the month concessions begin (they haven’t yet).
If the trend holds, July closings will reflect lower prices.

At least, that’s how it looks right now.