…That compares to a miniscule rise of less than 0.5% for the overall market, according to Jonathan Miller, CEO of Miller Samuel, the firm that prepared the report….
…Miller said that supply had been extremely low over the past few years, and the jump signified more of a return to normal….
…”The market is sort of self-correcting,” Mr. Miller noted….
…Mr. Miller partially attributes the rush on the more affordable homes to a spike in interest rates in May, and fears they will climb even higher….