Inventory is rising and although monthly new pendings remain strong, sales are leveling. The extreme demand we’ve experienced is cooling down as so many of the buyers who came into the market over the past fifteen months have by now made it to the closing table. Expect seasonal cycles to return to the market during the fourth quarter as supply and demand balance out. The pendulum may even temporarily swing in favor of buyers. See this month’s Housing reports for more detail in your specific markets and price ranges.