Sales up 3%am I missing something?

[Terrel L. Shields]

http://news.yahoo.com/s/ap/20080825/ap_on_bi_ge/home_sales;_ylt=AjEeE_kyeE0M1mGAEKXe6N9v24cA

The NAR said sales were up 3%...from June to July... Lemme see. 31 days in July...30 in June....1÷30 = 3.333% OK. Sales were DOWN 17% from last year...duh.

Mr. Yun said buyers are coming back into the market due to low prices...idiot savant..

 

[JRS at OBX]

I've been seeing more sales in the past couple months. Of course, I'm in an area with mostly vacation properties that sometimes act like the canary in the coal mine.

 

[Michigan CG]

The newspaper article I read tonight said the same thing, however it also said that listings are up, and prices are down.

We are yet to hit the bottom......I am thinking March 2010 for many markets including Florida, California, Nevada, Arizona, Michigan and Ohio.

 

[Scott Kibler]

...idiot savant..

You might be half right.

 

[JRS at OBX]

I also have to wonder if bank sales are driving it. I went to a foreclosure auction on friday and asked the guy if anybody has been buying anything at auction. He said maybe 1 out of every 20 auctions might get a bid. I think all the regular players are waiting until it's listed as an REO. At least that way you can inspect the interior and make a lower bid.

 

[Restrain]

Figures lie and liars figure. You can prove anything with statistics. Reality, well, that's something else.

 

[The Warrior Monk]

We are yet to hit the bottom......I am thinking March 2010 for many markets including Florida, California, Nevada, Arizona, Michigan and Ohio.

I'd say a lot longer for some of those markets. Some of those markets have a few years supply, and supply for those markets is likely to increase. And that's even without considering the likely increases in interest rates (to prevent further devaluation of the dollar), as well the continued clamping down on credit. We're already into the second or third year of the "experts" stating it'll get better next year.

 

[Terrel L. Shields]

I've been seeing more sales in the past couple months.

So you've actually seen a sale Comps are so scarce in towns under 2000 now, that I rarely can get 3 comps from this town under 6 mo. age, often not in 12. Sales 06 = 14 07 = 5 08 = 1 so far

 

[JRS at OBX]

So you've actually seen a sale Comps are so scarce in towns under 2000 now, that I rarely can get 3 comps from this town under 6 mo. age, often not in 12. Sales 06 = 14 07 = 5 08 = 1 so far

I've seen quite a few. Of course, half of them are bank sales..... :new_smile-l:

 

[AnonApprsr]

The Massachusetts area (at least the South Shore and Boston) are limping but not dead. I see stability in 2009, and maybe (what?) a surge in 2010 which will stabilize by the end of it. Then stable for the rest of my life.