There will still be a few stragglers, but the October numbers are shaping up as expected – fewer sales but healthy pricing. The frenzy was zooming by the end of 2012, but it was settling down by October 2013 after rates popped that June.
Here are the last 11 NSDCC Octobers, for comparison:
Look how similar this year is to 2005. After two years of spectacular run-up in both cases, we’re at the identical $/sf.
With rates bobbing around 4%, our softer landing should continue.