Home Sales Up … Home Prices Drop
The New York-based Conference Board's monthly forecast released today, showed that existing home sales rose 6.5 percent in December, as the median home sales price plunged 15.3 percent. The decline is the largest year-over-year drop in records going back to 1968.
The Conference Board also said unemployment could rise to 9 percent from 7.2 percent as the country remains in an intense recession through spring. San Diego Realtor
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4 Comments
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How do you hedge in the market against falling house prices?
San Diego medical research
I am surrounded by folks who think this is the time to buy. Just like I was 3 or 4 years ago. Based on home price fundamentals – I don’t see any possibility of a bottom for YEARS. Here, inventory is growing as foreclosures outpace sales.
San Diego Family Dentist
Buying a home is a long term deal. I bought 10 years ago, value has doubled (a couple of years ago I could say tripled), and in 5 years house will be paid off. No more mortgage! Try that with a rental! Yeah… commute sucks.
Las Vegas Criminal Attorney
I have followed this blog for about 4 years – everything it predicted is coming true.
Hoodia Gordonii