The largest monthly percentage drop in housing prices since the NAR has been keeping records just took place. There goes another 11.3 percent in the median price of a home. At $183,300 this level was last seen in March of 04'.
The pace of existing home sales droped 3.1% for the month of October.
My feeling is, that the November numbers are not going to be any better because October was a really slow month around here. However November has been active with people walking in our door. Usually November is a very quiet month and December is even slower. This market has been doing the unexpected so maybe we are in for an early Christmas and there will be activity throughout the month?
There has to be a turnaround sometime so why not December? Keep working hard, it will pay off....
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