real estate market: Lower Home Prices - More Home Sales - 12/29/08 11:16 AM
Sales have picked up for several reasons. Another big reason is  Lower home prices -
Lower home prices , yes, prices are going down, especially here in the west, and specifically, Phoenix, Scottsdale, Fountain Hills and other East Valley cities where we saw one of the biggest national drop. Inventories remain high.
However, lower prices are creating buying opportunities which we haven't seen in several years

real estate market: after prior stock market crashes home sales usually rebounded within a few months. - 12/23/08 05:42 AM
There was some less than positive news earlier.
The NAR reported Sales of existing homes plunged far more than expected last month as buyers recoiled from October's financial wreckage on Wall Street. The median sales price fell by the largest amount on record.
The National Association of Realtors said Tuesday existing home sales fell 8.6 percent to an annual rate of 4.49 million in November, from a downwardly revised pace of 4.91 million in October.
However, there was some positive or optimistic insight into the data.
Lawrence Yun, the normally upbeat chief economist of the Realtors group,  noted that after prior … (0 comments)


Scott Skinner

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