National commentators are having discussions around affordability. While Professor Schiller focuses on housing prices and calls the current market a great boom, others point out that in real terms housing activity doesn’t match up. In other words, you can price your property however you like it, but it doesn’t matter in economic-terms if no one buys it. National builder Toll Brothers cited moderating demand and market softness in their last quarterly reporting, blaming rising mortgage interest rates. Maybe the recent pull back on mortgage rates will help as we cross into the new year. (See #5 here.)

Locally, MLS data reveals 1378 properties for sale at the end of November (195 over $400k/Luxury), and a down-dip in sales in November (335 sold, 20 Luxury).

Our Movers-Moving index showed a solid 138 transactions. See attached.