Bit of a down week for pendings as rates bite into demand. From time to time I look back at my posts from the past as well as the trends I see on my spreadsheet.
Last year we normalized sales above $1m in MM. We also normalized sales of the typical one story 3 or 4 BR between 1100 and 1400 sq ft in the high 900’s/low 1M range through Spring. Now I see a re-normalizing of those homes selling in the 800’s now (skewing toward mid to high 800’s). There are a bunch (about 10) on the market in that range right now and Id suspect we’ll see them gradually sell over the next few months. Above that seems to have gotten tougher
