This is the headline news on the front page of The Commercial Record" for Friday 2/2/07.
They are telling us that single-family homes finished in 06 slower than multi-families. They do define the region of "Northeast" which is CT, MA,RI, NY, NJ, NH,PA, Maine and Vermont. They did not give us numbers to verify this headline but they are backing it up with the fact that cost of condo's today are making it so that buyers are turning to Multi families but all through agents opinions.
The article does mention that the Northeast has not taken the bigger hit in sales as other parts of the country because of our low inventory. This is true for my area Hartford County. Our inventory levels are the same as they have been for the past five years.
Also to mention in Fairfield county the New construction is still very good because of all of the "tear downs". In my area Hartford County - our tear downs are present but not the norm.
Basically, everone in this article is predicting the 07 market to come back from our cool down the last two quarters of 06.
Yes, interest rates are still fantastic and I do think we are still going to see corrections in price until the spring market because sellers now are still inflated with their asking prices.