New Home Sales Prices are Falling Fast!

A return to trend

I don’t think I need to rehash the pandemic narrative: disease, panic, home buying.

Everybody wanted a sweet home and those homes became in short supply. So, prices went up! Supply and demand.

Now, that trend is reversing:

That drop took only two months. And, it’ll be interesting to see where it goes in the coming months as the market continues to turn due to changes in mortgage rates and other general market conditions.