South pending home sales down 9.5%

[Greed is Good]

http://money.cnn.com/2007/10/02/news/economy/pending_home_sales/index.htm?postversion=2007100214

All four regions tracked by the Realtors - the Northeast, Midwest, South and West - saw declines. The South, which accounted for nearly 40 percent of existing home sales during the real estate boom of 2003-2006, posted a one-month drop of 9.5 percent, the sharpest decline of any region. All are down 18 percent or more from a year earlier.

[fencerider2]

Down we go, and still has a long way. Bahahaha

http://pic50.picturetrail.com/VOL488/1126801/2125100/281166565.jpg

[Scott]

http://www.tampaforums.com/forums/investing-finances/august-real-estate-stats-bay-area-308605/

Strange, some of you seem to have missed this thread.

I like how lumping the whole south together is a reflection of our local market.

[Young,Fablous,&Broke]

http://www.tampaforums.com/forums/investing-finances/august-real-estate-stats-bay-area-308605/

Strange, some of you seem to have missed this thread.

I like how lumping the whole south together is a reflection of our local market.

From your chart, if I divide 3441(6/06) by 2520 (8/07) I see a 27% drop in sales.

[MianoSM]

"The sellers are still looking at the price their neighbor got two years ago, and the buyers are looking for the mythical 30 percent price cut and they're both wrong," he said. "It'll take some time for the stalemate to end."

Best line in that whole article.

[MianoSM]

From your chart, if I divide 2520 (6/06) by 2520 (8/07) I see a 27% drop in sales.

How did you come to that percentage?

[Young,Fablous,&Broke]

sorry, I fixed it.

[MianoSM]

sorry, I fixed it.

:lol: yea 2520/2520 = 27% was cooking my noodle. The only thing is the drop is 27% but home prices aren't fully there at the 27% price drop yet....too many are still hoping to get last years prices, and tons of people love to say "oh, but that house on the corner just sold (7 months ago) for 50k more!

[Joe]

:lol: yea 2520/2520 = 27% was cooking my noodle. The only thing is the drop is 27% but home prices aren't fully there at the 27% price drop yet....too many are still hoping to get last years prices, and tons of people love to say "oh, but that house on the corner just sold (7 months ago) for 50k more!

Something that Jim (Fencerider) posted a few threads ago that might be worth reading...

http://www.kc.frb.org/publicat/sympos/2007/PDF/2007.09.27.Shiller.pdf