November is often the strongest month of the year, as vendors look to complete the big move before Christmas. This has not been the case in the last two years. Ray White listing authorities are declining earlier than expected, suggesting December may be weaker this year as well.
New listings volume saw a weak start to 2023, following an equally weak end to 2022. If we attribute this diminished activity to elevated interest rates, it is unlikely we will see the records in 2021 tumble any time in 2024.
