Housing Market Slowdown

[John Mercier]

Originally Posted by Biggd

Construction is still very busy, but real estate sales have definitely slowed.
Many contractors were so busy the past few years that they were take large deposits from customers just to get a slot on their schedules.
I know a few people that bought in my neighborhood that had to give large deposits to get contractors that were booked a year out.
It will take some time to work through those projects, but they will eventually slow down also.
When there is a real estate boom there is always a construction boom that follows it.
A beautiful waterfront log cabin just went on the market this past week on my street, over 2 million, we'll see how long it takes to sell.
They have had two showings so far, so there are people looking.
Two years ago, this home would have multiple offers over list as soon as it hit the market.

My guess. Quite a while.
Unless it is priced as a teardown.

Existing units being purchased and renovated are showing strong demand for English cottage style.