Saturday, March 12, 2022 / by Bryan Baylon
Despite so many observers claiming that the housing market is heading for imminent trouble, the rate at which prices are still rising is astonishing, even to seasoned old
analysts like us.
The average price per sq. ft. for listings under contract just exceeded $300 for the first time. It was half that just 5 years ago.
It has risen $40 in the last 6 months - a 15% increase.
The average price per square foot for listings under contract is a leading indicator. For sales prices to stabilize, the prices for listings under contract have to stabilize first. There is a 1 to 2 month delay between the 2 measures.
There is currently no sign of price rises halting, never mind reversing.
Market incites provided by the Cromford report.