I would say a 12.7 percent decline year over year qualifies for the word plummet.
Eventually people are going to have to move because of life changes. Right now, everyone is sitting around waiting to see what which way the wind is blowing. Those selling are getting few lookers. I think it will be slow until 08, personally.
Plummets!
Wow! 12% Now maybe I can afford one. Because the ponzi scheme of housing was really an investments market rather than an issue of shelter, I could care less about it dropping a measley 12%.
Farmers and oil producers in our part of the country deal with swings like this all the time. A drop like this after an admittedly overheated speculative market is nothing I am going to worry about. HAving money invested in 5,000 sq. ft houses is a waste of captial in the first place.
Oldplayer
Oklahoma
Still having a difficult time reading, I see.
Home prices also dropped: The realtors' survey showed that the midpoint price for an existing home sold during the summer dipped 1.2 percent year over year
Prices did not plummet 12.7%. LOL!