| This is all of Rutherford County, single family, residential. Bracketed by price point only. Initial observations: only 1 house under 100k, only 1 from 101-125, only 11 total under 200k. Crazy. 37 sold over 1 million. Also crazy. The bulk of the sales are in the middle–401-600. We are 81 sales ahead of the same time last year even though April was down. Think about the news cycle and the way things were going. March was warmer, sparking the “spring fever” a little early. Then we had a war which put the kibosh on the spring ramp up. Now look at the listings column. check out how much is new construction (to the left of the slash). And look where the inventory build up is. Look at the jump from 400 to 500. Our market is stagnant. The longer the fear and anxiety lasts, the more stagnation we will have. And, seasonally, it couldn’t be at a worse time. April and May is typically when we ramp WAY up and any amount of price growth for the year is built in. We may actually see retraction in the fall but it is rarely enough to completely offset the spring gains. The way it is going now, the fall retraction will give us the first overall full year retraction in a very long time. |
