I just saw on the news that new home sales have fallen to an eighteen year low. Sales were down 5.3% in September and down 40% from a year ago. Inventories are dropping as builders are not building. That should help relieve the glut on the market. It would really be nice to hear some good economic news for a change and especially in the real estate market. Other realtors that we have spoken with have varying views on how long this market is going to last. Some say through 2009 and others are saying, it could be five years or longer, depending on how much of a recovery we see from this financial crisis. We are sure come January, there will be less active Realtors.
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