The median price of a previously owned home fell 3.3% to $210,200 in November from $217,300 in November 2006.
Sales up slightly, but prices down...both an artifact of potential house sellers being willing to cut prices. There are a lot of people out there who are waiting to sell homes, and believe that this downturn will be short term, and as more and more people see the falling prices as a longer term trend, they will move to sell sooner.
I've never seen a real home price drop that (not month to month, but a real one) that lasted less than 4-5 years. This one has even farther to go.
No comments:
Post a Comment