Republished from William Pitt Sotheby’s International Realty
While the first quarter of 2018 was consistently down in unit sales and dollar volume compared to the same period the prior year, the second was more notable for its inconsistency from market to market. Certain areas remain behind the first half of 2017, while others are catching up or even exceeding the prior year. The drop off in unit sales in many markets was more a result of low inventory than low demand, and in several areas the high end is showing promising activity. Properties under contract overall, though not in every region, are increasing year over year, suggesting many markets will potentially recover some lost ground by year’s end. Please read our 2018 Second Quarter Market Watch for a more detailed analysis.