Assuming the M2 holds on par with the last several months, there is a .903 correlation (R2) to the median pricing in town and a .869 to average pricing. Interest rates to M2 are .665. Interest rates to median pricing is .457. Interest rates to average pricing is .407.

What does this all mean? Follow the M2 to see where housing is going, with an eye on interest rates. As the latter stays relatively high, folks can’t afford homes at the prices. As the M2 holds, prices will follow.

“Fascinating,” as Commander Spock would say.