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IPFS News Link • Economy - Economics USA

High-End Property Slowdown in Maryland and Texas: Where Next?

• globaleconomicanalysis.blogspot.com

Anecdotes do not constitute "data" but all three stories (counting Chicago) show significant weakness at the high-end in widely varying areas with distinct economic backdrop differences.

Paul from Maryland

Mish, I live in the Howard County, Maryland. It's the 4th wealthiest county in the US. We recently had a presentation by a Realtor on the state of the market. It's still a very strong seller's market in the $600K and below range. Inventory is around 2.5 months on a 3 month rolling average basis.

However, the high end is abysmal. Houses asking $2.5M+ are not selling at all. There are 20 on the market with no sales. In the $1M to $2.5M category, 293 are up for sale, with only 27sold, a weak showing.


 


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