Development Ideas

[BuildingScout]

Prices falling to reflect the large number on offer?

I don't know about the 42, but in many relatively new developments be them houses or condos, prices tend not to fall barring foreclosures. Why?  because people would owe money to the bank if they sold, so they simply stay put. I know of one specific overpriced development in which not a single house sold for seven years, even though the expected turnaround in that time span should have been on the order of a dozen sales.

Presently prices in that development have finally matched what they paid for twelve years ago, and suddenly there are 5 houses for sale.