October Sales Drag

I have just finished compiling the sales data for October and the picture is not any prettier than it has been. A quick look reveals that the lower the sales price the faster the market is moving. The market is substantially slow when the sales price goes above $450,000. There is a 5 month supply of homes priced under $200,000 while the supply balloons to over three years for homes priced over $800,000. I will be digging deeper into the numbers in the month ahead. Check back here soon to get a more complete picture of what the market is telling us. All the best, Jeff