re: May retail sales up 17.7 friggin percent

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From a macro view, government spending on the consumer is very important, even in real estate right now. If you are selling only high end properties, maybe not so much. But the mid priced homes below 200K are taking a hit.

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Maybe in your market, but you have zero clue what you’re talking about when it comes to mine. Mid 150’s if the houses are either in good shape or good flip potential are ALL in multiple bid in my market. A particularly nice one had 11 bids and wasn’t on the market for 48 hours.

A significant portion of our inventory is new construction, and I have 2 vacant lots which just closed, 3 more under contract and 2 offers being negotiated. All by individuals looking to build. That’s just me, and I see lots go pending every day that aren’t being sold by me.

Don’t even get me started on the DR Horton subdivisions which probably have 50+ new under construction by themselves.

It’s a sellers market, has been all year. Inventory is down from last year, 40% of our inventory is on the market 10 days or less.

It was that way before Cov-19 caused the shutdowns, it’s still that way now and unlike you I’m not seeing it even beginning to check up.