So sales have slowed significantly in September.

And what we're seeing is the number of newly pending listings

fell 18% month over month and are down 29.3% compared

to last year.

And part, that is because of a sharp deceleration

and activity at the end of the month.

So when rates were at their highest in September,

of course, sales were down because most people

had sticker shot when rates went from 3% to 4%

and spike in the uppers of 6%.

So what are we going to see?

Sales are down more than 6% from September of 2019.

Mortgage rates, the target driver of monthly payments

rose through September.

And they are so volatile right now,

that it is really hurt in the buyer's ability

to plan for the future.

And I can add some context to that.

I was really looking at the rates

and I'm meeting with my lenders and I'm going over numbers.

I'm like, let's compare this like apples to oranges.

How is this really affecting a buyer?

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