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It’s no secret that the real estate market has slowed down. Rapidly rising interest rates, uncertainty in the economy, and the looming threat of a recession have taken their toll. 

The latest data from the National Association of Realtors (NAR) shows that existing home sales in July declined by 20 percent. Existing home sales in August 2021 were 576,000. But in August 2022, only 451,000 homes were sold—a decline of 125,000 home sales.

With interest rates expected to continue rising into 2023, home inspectors (and all real estate related professions) will be watching home sales activity with a careful eye—and doing everything they can to drum up business. Make sure you stay informed with the latest news and information by subscribing to Working RE’s digital newsletter at:
https://www.workingre.com/

Isaac Peck is the editor of Working RE magazine and the Senior Broker and President of OREP.org, a leading provider of E&O insurance.

Isaac's timely cover story is about the slowing real estate market and how it can affect home inspection business's and others in the real estate profession. 

In a changing market we all need to start thinking more creatively to come up with new and improved marketing to reach the new customer which may be the seller about to list their property.

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John Laforme
Certified CREIA Inspector Member #0155263
Home Inspection Authority LLC

Former President of CREIA Mid Valley Chapter
Former Vice President of CREIA Mid Valley Chapter

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