Henri Gourd 914-954-3897 henrigourd@bhhsne.com READING BETWEEN THE LINES With the unofficial start of summer's July 4th celebration behind us, I wanted to see what the data said about the first half of the year. The numbers confirmed my personal observations that the first six months were considerably slower than the same time last year. In fact, in New London County, the number of new single family homes coming to market was down almost 20% and the number of homes that closed was down 19%. The demand for homes fueled by growing families, relocation and downsizing continues to meet headwinds with the rising mortgage interest rates. The higher rates significantly reduces the purchasing power of new homeowners and for those who may be trading up or down in home size, there is a hesitancy to move as today's rate can easily be double what they are paying currently. On the supply side, there is a well-documented lack of available housing nation-wide and new homebuilders will be playing catchup for the next few years. While the strong demand in a restricted market should greatly accelerate home prices, the growth has been tempered by the high interest rates. BERKSHIRE HATHAWAY Home Services New England Properties Selling it all, from cottages to castles! Henri Gourd 914-954-3897 henrigourd@bhhsne.com READING BETWEEN THE LINES With the unofficial start of summer's July 4th celebration behind us , I wanted to see what the data said about the first half of the year . The numbers confirmed my personal observations that the first six months were considerably slower than the same time last year . In fact , in New London County , the number of new single family homes coming to market was down almost 20 % and the number of homes that closed was down 19 % . The demand for homes fueled by growing families , relocation and downsizing continues to meet headwinds with the rising mortgage interest rates . The higher rates significantly reduces the purchasing power of new homeowners and for those who may be trading up or down in home size , there is a hesitancy to move as today's rate can easily be double what they are paying currently . On the supply side , there is a well - documented lack of available housing nation - wide and new homebuilders will be playing catchup for the next few years . While the strong demand in a restricted market should greatly accelerate home prices , the growth has been tempered by the high interest rates . BERKSHIRE HATHAWAY Home Services New England Properties Selling it all , from cottages to castles !