$2.8 BILLION SALES IN ARROWHEAD WOODS… 2000 TO 2013
Have we reached a new normal? Rather than the usual median sales prices, we are looking at total volume, millions of dollars each year exceeding $2 billion in total sales for all homes sold in Arrowhead Woods over 14 years.
A most revealing chart, Arrowhead Woods sales and prices rocketed yearly from 2000 to 2004. We could hardly believe what was happening – nirvana – forever… too good to be true.
At the peak of the bubble, 2005 volume topped $400 million – in just one year! 2008, 2009, 2010 was the pit, bottoming out.
Perhaps slow, but 2013 was a good year. 2014 is projected to have a comfortable rate of growth with most forecasts saying prices will rise 4%-5%.
Economists are forecasting modest growth in 2014, subject to rising mortgage rates, expected to hit 5.25% by year end.