Double Dip in Home Prices Coming

NEW -> Contingent Buyer Assistance Program
B

bluemove

New member
A recent analysis by CNNMoney.com shows that a double dip in housing prices is coming.  Existing home sales sank 27.2% in July, twice as much as analysts expected. This is the lowest level since 1995.  The cnnmoney link is on my blog at www.bluemove.blogspot.com.
 
bluemove said:
A recent analysis by CNNMoney.com shows that a double dip in housing prices is coming.  Existing home sales sank 27.2% in July, twice as much as analysts expected. This is the lowest level since 1995.  The cnnmoney link is on my blog at www.bluemove.blogspot.com.
Click to expand...

This news sounds promising. Sales just fell off a cliff. How do you suppose this will affect the local Irvine RE market? More of the same WTF pricing or will we finally see some more pricing reality out there.
 
A lot of OC sales happen in the summer when kids are out of school.  This market trend may make for downward pricing pressure through the end of the year.  I must say though, I do not follow Irvine very closely.
 
bluemove said:
A lot of OC sales happen in the summer when kids are out of school.  This market trend may make for downward pricing pressure through the end of the year.  I must say though, I do not follow Irvine very closely.
Click to expand...
Irvine sales have decreased for the first time YOY in July and August is on pace to have about a 10-15% decline in sales from July plus add in the increasing inventory levels and we went from a seller's market to a neutral market (for now). 
 
You must log in or register to reply here.
Back
Top