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Home sales down 8%

Real Estate Agent with My Florida Home Store

October 25, 2007 06:08 AM

Resale home sales are down 8% which is the lowest pace on record according to the state of the real estate market report released Wednesday. Sales of homes slowed to 5.04 million in Spetember compared to 5.48% in August.

Here in Clearwater it is very apparent of a market slow down. Homes are going up for sale on almost every street, and expired listings are thru the roof. I can't imagine a fast turn around, there is just to much inventory on the market.

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Bob & Carolin Benjamin

Benjamin Realty LLC - Gold Canyon, AZ

East Phoenix Arizona Homes

Keep hanging in there. Everything changes in time.

Oct 25, 2007 06:12 AM

Highland Beach Condos David Serle

RE/MAX Services - Highland Beach, FL

Boca Raton Agent David Serle

Phaedra, the problem with those statistics is that October & November are always slow in Florida. So they take a busy month in August, and compare it to a slow month in September and scare consumers into thinking the real estate market stinks. It does not. People are purchasing everyday in Florida, and people who are reallistic in their home prices are selling everyday. There are not as many buyers out there as in 2005, but there also won't be as many realtors either. I hat these statistics because you can make statistics say anything you want. Apparently the media wants to say real estate stinks. I want to say the real estate market is an opportunity. Why would you want to buy in a hot market, if everyone is selling you should be buying. If everyone is buying you should be selling. That is how you and your clients will make money. Good Luck.

Oct 25, 2007 06:17 AM

Phaedra Hubbard

My Florida Home Store - Clearwater, FL

Clearwater, Dunedin, Palm Harbor Real Estate Exper

Excellent point, it's just an uphill battle with the media making real estate seem so bad right now. If they would stop talking about the market being so bad, it would probably recover faster. I plan on buying a few homes for investment if things keep going down hill.

Phaedra

Oct 25, 2007 10:58 AM