For the first time since I have been reporting these numbers, not a single town has a single digit absorption rate.  In Chatham, only 3 homes closed in the last 30 day period with 128 currently on the market.  Not a good sign at all.  However, there are more than a dozen homes under contract, that hopefully will close.

Accross the board, we saw about a 2% increase in listings.  I think that this is a precursor things to come as we get nearer to the spring market.  Sellers are also starting to adjust to lower home values and pricing their homes more realistically.  Buyers however, still think that they can buy homes for 75 or 80 cents on the dollar.  This is not the case any longer as the starting prices are now much lower.

See all of the details at http://fine-home-sales.com/absorption-rates.asp