The FVREB releases stats today. Here they are.
A notable note is that the price of the residential benchmark is down -0.3% from August 2007.
Flat prices for 3 years is starting to take the wind out of the sails of the relentless pumpers. The psychology is changing and the fall should be interesting.
Charts to come later.
2 comments:
Everything OK? Did I miss a post announcing a hiatus? Are you just testing to see if anyone notices?
ac, nothing much to report these days. I just finished posting my price prediction data on google spreadsheets. The negative correlation between half-over-half price changes and MOI is still tight.
What does this mean? I'm looking at MOI to trend higher for the rest of the year, probably between 7 and 8 for Oct/Nov and a bit higher in Dec. That will throw the detached benchmark to around $725-750K by the end of the year.
Next year should be interesting. We're heading into uncharted waters.
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