Contacts attribute the decline to lower demand, partly as a result of changes in the stock market. A Massachusetts contact indicates that the number of detached houses and condominiums sold in the Commonwealth dropped by 11 and 6 percent, respectively, over the year ending in second quarter 2000. Vermont contacts cite lower demand and rising inventories of new homes, especially at the higher end of the market. Inventory in other states, however, remains very low. New Hampshire and Rhode Island report very low inventory levels and active markets.
Most contacts expect sales to slow further during the winter and prices to remain flat.
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