The home price explosion in Arrowhead Woods is startling. We have had so many hic-ups, the recent 18% price rise is amazing. May, the sixth month of the rise is losing momentum in prices and sales. May prices faltered, dropping $5,000 from $395,000 in April 2014 to $390,000 in May; 10 fewer sales than May of 2013.
The growth may not be sustainable, but we are in a catch-up mode compared to gains of 10% – 12% across the nation, year over year for the last two plus years. Case-Shiller reports a national slowing in the last four months. As vacation homes typically lag behind, the nation could be predicting our summer.