HOME PENDING SALES FALL
Pending home sales fell in November compared with a month earlier, as credit tightened and economic conditions deteriorated, according to a recent NAR report.
The Pending Home Sales Index (PHSI), a forward-looking indicator based on contracts signed in September, declined 4.6 percent to 89.2 from an upwardly revised reading of 93.5 in August, but is 1.6 percent higher than September 2007, when it stood at 87.8.
Related posts:
San Diego Real Estate Market … What Did You Expect?
San Diego Real Estate – 5th Largest Decline Through July
San Diego Home Sales Up … San Diego Home Median Price Drops
Southern California Home Prices Drop 34% in August
San Diego real estate market blog
If you enjoyed this post, make sure you subscribe to my RSS feed!
11 Comments
Trackbacks & Pingbacks
Comments are closed.
In 2005 most of the commentators on the real estate market were saying there’s no bubble and our mini boom would never end, this is a sure sign that an end is fast approaching.
California immigration attorneys
I believe there was a show on TV called “Flip This House” for real estate speculators this was another sign of an overheated bubble.
Riverside attorneys
It’s just surprising that so many people with the clear signs that were present in 2004 and 2005 didn’t say that the San Diego real estate bubble was about to bust.
San Diego DUI defense lawyers
I remember in 2005 that it seems every month the paper reported that real estate sales were down by double digits though the values seem to be holding up. You would think an intelligent person would realize sales cannot drop by such a magnitude without values following.
Dallas real estate attorneys
The ingrain notion that San Diego real estate always appreciates has now vanished, and that’s probably a good thing.
New Jersey real estate attorneys
There was so much speculation in the San Diego real estate market, what we’re seeing now seemed inevitable.
San Diego hotels motels
The extraordinarily high prices for San Diego real estate really make the investment potential very risky when the average rent doesn’t come anywhere near the carrying charges an owner has to pay.
lasik eye surgery
It seems the speculators had bailed out of San Diego real-estate and are now into commodities.
gold silver
I believe a lot of people who purchased with subprime loans and were not really qualified have to accept the inevitable consequences and perhaps build up their savings and credit while renting until the next purchase opportunity.
Tijuana Mexico dentist
It’s pretty bad in South Florida, too. I’ve lost about 18% on my home within the last 18 months. Ouch!
I was reading the other day that we’ve lost $2.2 trillion in home equity in the US. That’s a lot of money out of economy.
Cheap hotels San Diego