North Fork price trend indicators rose as sales
stabilized. Median sales price continued to rise
sharply from prior year levels pulling in additional
supply. Listing inventory edged 2.6% higher to
507 from the prior year quarter. There were 134
sales in the quarter, unchanged from the same
period last year. As a result of stable sales and
more inventory, the pace of the market slowed
nominally. The absorption period, the number
of months to sell all inventory at the current
rate of sales, edged up to 11.4 months from
11.1 months in the prior year quarter…