Hey everyone, this is James at Yoreevo, New York's #1 commission rebate brokerage, with our July 2023 Manhattan Market Update. And it's the summer, it's July, so there's not as much going on, but basically the trends that we have been watching for the last couple months, and have been expecting for the next couple months, have continued. When we look at the level of contract activity, we're up about 1%. That's our first increase on a year-over-year basis this year. That's not as noteworthy as it sounds because remember, comparisons get easier throughout the year because mortgage rates rose throughout last year, but it's an increase nonetheless. When we compare to the 2017 to 2019 average, which we considered to be normalized levels of demand, we are also up a couple percent. When we look at this by price point, nothing too noteworthy here, just kind of bounces around on a month-to-month basis. And then this is looking at recent demand versus that 2017 to 2019 average, you can see since February, we've been bouncing around flat. Inventory continues to be the bigger driver of the market. We continue to see larger declines there, which is supporting pricing, because buyers don't have as many options so they have to be a little more aggressive with their offers to scoop up the offers that are out there. The big test is going to be after Labor Day, because a lot of sellers hold their listings off the market in July and August and put them on the market after Labor Day when buyers are back. So in two months when we're doing the September Market Update that'll be a much more significant data point, but for now low inventory continues to support pricing. When we look at this by price point, there is a trend here. Basically the lower you are on price point, the less inventory there is. And then on mortgage rates, all of this, let's say continued normalized levels of demand and supported pricing is in the face of mortgage rates near the highs So depending on the week we're bouncing around 7% for a 30-year-fixed but that just goes back to show you that buyers don't have too many great options. They don't have more listings to choose from on the sales side and the rental market continues to be very strong. So despite very high mortgage rates, demand continues to be pretty strong, much stronger than I would have expected if you told me 18 months ago that rates were going to go from 3% to 7%. So if you're in the market while we wait for all that inventory to hit after Labor Day. If we can help with your search, obviously we'll be happy to. We can refine this data however you like and cater it specifically to your search. And of course we'd be happy to get your commission rebate for up to 2% on any place in New York City. So you can email us at info@yoreevo.com and thanks for watching, bye.