Here are the results of sales activity for July.
Two things stand out to me – the average price per square foot is lower again; and the number of sales while lower than the past is higher than I expected for the dead of summer and after the expiration of the tax credit. Listings also seem to be down a bit. If we could only soak up a bit of that excess inventory things might be looking up again. Buyers – all time historic low interest rates – under 4.5%. That’s an opportunity in and of itself.