The basics of Supply and Demand will continue to push residential home values up for the balance of the year. The $300K - $400K unit sales are up +64.3% for the month of October and +22.6% Year to Date. $400K - $500K unit sales are up +32.9% for the year and the $500K+ Market is up 93.3% Month to Date and 32.2% Year to Date.
Our market is healthy and if we can normalize the lending criteria, the housing market will be fine. Our biggest issue is lack of quality inventory and lack of suitable building sites for new construction.