For me and some of my colleagues showings have slowed down on our listings. This started in the middle of May. Look at the chart and there is part of the explanation. It doesn’t help that the price of a barrel of oil has done a similar spike.
This reminds me of the Time article talking about prices versus interest rates. They make the point that if prices slide but interest rates go up, then buying now may be better than searching for the “bottom”.
Interest rates were around 9% in the mid-1990’s and 19%+ in the early 1980’s. If interest rates go up then we will see more stagnant pricing around here. As many told me during 2005 and 2006 that they wished they bought before prices went crazy, I expect more to say they wished they had bought when interest rates were low.
