Deals closing today were agreed to in early September and October. Real Estate slows down this time of year.
Average home prices drop 8-12% this time of year. And increase 9-13% in the spring. If you are a seller, dont panic...or actually, go ahead and panic like people did in 2002. As people drop their homes for the lowest bidder from sheer terror, they will slash inventories, which will lead to one further push up in April, as mortage rates fall below 6% once again.
This is the worrying factor for me. You are correct in that the number of closings drops off rapidly at this time of year, but normally there is an equal percentage of drop in the total inventory offered as 'open listings'. If inventory is up a great deal that is not a good sign for future pricing.
Nam Vet
(R.E. Broker over 15 years)