“Balanced Market” - A Euphemism for Things Are Changing…
The volume of listings in May was up by 25% compared to May of 2007 and the volume of sales was down 20% for the same period. This is a combined shift of 45%, a very significant number for any month. Year to date, listings are up 11% over the same period last year and sales are down 13%, a collective swing of 24%. These numbers indicate a very strong move away from the market we have enjoyed these last years, yet the average price has increased this year 8% over the same period in 2007.
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