I have not heard that either. If you watch the market trends, our absorption rate in DeSoto county has shrunk from 9-12 months of inventory, to 7-9 months of inventory. That is a positive. It is not really reflecting in sales, except in Southaven, average sale almost doubled in 2nd half of the year over 1st half.
I agree with Dunes on this one....The sales #s may go up a bit as prices go down, but there are a few problems. There are still not stated income loans, so financing is tough and the number of NODs/NTSs on these larger purchases are still skyrocketing so the many of the sales will be coming from the distressed side...bringing prices down.
In contrast with conforming markets where the supply (at least here in California) is under 5 months, the jumbo markets are seeing supply still between 10-25 months of inventory. That is a normal cursor that prices will continue to fall.
Where did you hear that and what are you suggesting/thinking it implies?
Could it just be Larger homes might sell a bit more because the continuing Price declines have cause the Prices of them to drop back into a Price range some find acceptable for their Budgets?
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