Welcome to Summer’s last month! Many plan to take that vacation they’ve waited on for a long while and airports worldwide are at maximum capacity. In our local real estate swirl, those of us working can sense the absence of visitors at open houses or broker caravan tours. This presents a short opportunity for August buyers. I bought my own house in August years ago realizing less competition.   The market is shifting so swiftly and I want to share critical statistics with you. We feel such a difference between May & July market behavior. Here’s why: -Average number of Offers dipped to 3 from previous high of 5 -Approximately 30% of Buyers are waiving Inspection Contingencies -The share of All Cash Buyers is 25% -- holding pretty steady for 2 yrs -First time Buyers still struggling at 30% of the market, normally at 40% -34% of Buyers want features allowing them to work from home   Home Sales and Pending Home Sales activity has been falling for months, or stagnant at best. The dilemma is still Inventory. Prices have not fallen with the activity level – which continues to surprise Buyers. Inventory is increasing though most analysts say home prices will not drop noticeably next year, or achieve a 2% price increase at best, and this increasing inventory will afford Buyers more shopping choices as they feel less competition. Expect interest rates to rise, but interestingly Mortgage Rates may not rise accordingly because Lenders have already figured in the future price hikes.   That’s a lot of business talk, but as we see the shifting trends, I wanted to share as much as possible. Meanwhile, we are thrilled to have listed some noteworthy properties this last month. Our Villa Feliz in the Hollywood Hills is handsome Spanish Mission architecture and exudes beautiful early California residential charm. Our Downtown Loft at the iconic Eastern Standard Bldg, the former home of Johnny Depp, offers metropolitan lifestyle amid high-rise excitement. Our Trousdale property in Beverly Hills is an immaculate Mid-century with a gorgeous Pool & Guest House. We are busier than ever – and loving it all ! -Ernie