Active listings are increasing at the same pace as 2008.
Sales are still brisk but May could mark a turning point as it did in 2008.
Months of inventory is at the high side of normal and looks to be matching 2008. It will take a drop in sales to get to the extremely elevated levels of market distress we saw in 2008.
Correlation between MOI and price changes is extremely robust and we should be looking for price decreases through the summer if normal seasonal patterns hold up.
10 comments:
"Months of inventory is at the high side of normal and looks to be matching 2008. It will take a drop in sales to get to the extremely elevated levels of market distress we saw in 2008."
Just means that you get another chance to do what the rest of us already done!
LOL, I saw one comment and guess what I knew who that was.
Squaarrk, buy 3, husband buy 3!!! Raaaark, buy 3, husband buy 3!!!! Squaark. opportunity to buy!!! squark!!!!
Sorry metalhead, it was difficult to resist the temptation
Just means that you get another chance to do what the rest of us already done!
Bury ourselves in debt for an albatross around our necks? Sounds like a hell of a deal Mr. Parrot.
Tony,
You can remain a renter for the rest of your life.
Did metal show you the picture of the turkey I flashed at him?
Squwaarrkk priced out forever, Rwaarkk buy now or be priced out forever!
It is a fact that prices are up 20% from March 2009. Fact that prices are up at lot since 2004 and 2001. Can you deny that?
Squwaarrkk!
LOL Tony. You are hilarious.
Hmmm!
Is that a yes or no? I can never tell with parrots!
Yes Jim, prices are up.
Tell me which makes more sense.
Buy low, pay off the mortgage quickly.
OR
Buy high, pray rates dont rise and pay the mortgage off after you retire?
Prices have gone up very quickly, does that make it a better time to buy, or a time to wait till prices come back down to earth?
Saying prices have gone up substantially doesnt make me want to buy.
Try another pitch.
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