According to recent Zonda data, sales were down a bit in July compared to 2023. Not much news here as I think the quote says it all, “All eyes are now on what the next few months hold.”
Given how mortgage rates are already falling in anticipation of the Fed cutting rates, we’re excited to see what the activity numbers show for August, and even more so for September.
On a CCM-specific note, it is nice to see that Cincinnati and Minneapolis were two of the best performing markets, which bodes well for much of our Minneapolis-based portfolio across multiple funds and asset types and our Cincy-based O&E project: Everly.
Read more: July New-Home Market Softens From Earlier in the Year
