Hey everyone, this is James at Yoreevo, New York's #1 commission rebate brokerage with our June 2023 Manhattan Market Update. And we're seeing a lot of the same trends that we've been watching over the last few months but overall the market remains pretty solid and inventory remains tight. So when we dive into the numbers, if we look at the number of contracts signed in June versus last year, we're down about 9%. But remember comparisons get a lot easier as we go throughout the year because interest rates rose last year so we like to compare to the 2017 to 2019 average, and when we do that, we're about flat. Which again we've been bouncing around for the last few months. So when we look at the chart, you can see here down 9% year-over-year. Not too much to look at in terms of price point and we're all down around the same amount. But here's that chart where we compare to the 2017 to 2019 average and you can see ever since February we've been bouncing around flat-ish. It's just kind of volatility month-to-month. On the inventory side, it's still pretty boring. We've been saying that every month because we've been plus or minus a couple percent over flat, we're down 4%, which isn't too much of a difference. But if we do see continued declines in inventory, that will continue to create a bit more urgency among buyers and support prices and depress the number of transactions because as we've said in the past, if you have less inventory on the market, fewer things to sell then you're going to have fewer transactions. There is a trend by price point when we look at the inventory basically the higher you go, but in price point, the higher the inventory. And you can see here we're down 18% on the lower end and we're up 5% on the higher end. And then just quickly touching on mortgage rates, not much has happened here, which isn't really a good thing because mortgage rates are basically at the highs. Here's the chart that we look at every so often comparing mortgage rates to the fed funds rate. The fed left the fed funds rate flat this month. So nothing really exciting there, but when we zoom out here, this is a chart we've shown before and it's got a lot of data, it's going back to 2014. But as you can see here, spreads between the 10-year Treasury, which is the primary driver of mortgage rates and mortgage rates themselves remain elevated, significantly elevated, compared to historical levels. So we speculated in the past that maybe that's because regional banks aren't competing for mortgages like they had been a year ago, but regardless mortgage rates remain at the highs. But we're not really seeing many buyers deter, but it seems like buyers have really they've adjusted to higher rates and they're comfortable buying with them now. Even though we're starting to see buyers get quoted in the 6.5% some even in the 7% range but buyers remain undeterred. So it's overall a pretty strong market, especially considering the circumstances around mortgage rates. If you are in the market, this is a slow time of the year. There's going to be less inventory coming on the market, but of course we're happy to help. We're happy to get you a commission rebate for up to 2% to help you through your search. So if you are on the market, we can slice and dice this data however you like. You can reach out to us at info@yoreevo.com. Thanks for watching and we'll see you next month, bye.