Now don't get fooled, absorption rates are better when they are lower. Like golf, not bowling we want to see a little number!
Our market is still bifurcated with homes in the lower price ranges selling quickly while homes priced in the higher ranges are still finding it hard to find buyers.
Average residential sales prices are also trending up. This honey of a chart looks like a roller coaster with all it's ups and downs.
Last but not least, my chart comparing the inventory, new listings, sold and those under-contract has some nice lines to it. Note how the inventory is lessening and the solds are holding steady.
We need inventory folks! If you are thinking of selling your home, the time is approaching.