[GodGunsGuts]

ping

[edcoil]

Yesterday home sales soard to the biggest ever with a 16% increase but, an 11% reduction in price.

Today this headline.

What a joke.

[TheDon]

Analysts are concerned that the glut of unsold homes will further depress prices in coming months.

This will cheer those younger folks who are trying to get into a house! Don't know about the rest of the nation, but in SoCal it's been a wild ride for several years.

[dakine]

“And the crowd goes wild....”

[Sleeping Beauty]

You know — in the real world these numbers don’t mean a thing.

I’m currently trying to sell one home and buy another.

The one I want to sell — it’s like “Oh, this is a bad market. You’ll have to slash your price.” And the lenders are stalling.

The one I want to buy — it’s like “Prices are remaining high. People aren’t coming down. They’s rather rent them out than sell at as lower price.”

In the real world, these are just headlines. They are not reality.

[JasonC]

Oh, you mean they are no higher in 2003? And prices are vastly higher than they were in 2003? So then, what's the big deal?

[stainlessbanner]

bttt

[tinamina]

There are 3 houses on my block. My house is paid for and not for sale. The house next door is on the market and has been for 3 months. I believe one person looked at it. The other has been repossessed by the bank and will be auctioned off on June 20. $37000 is owed on the house and the people couldn’t make the payments. I’m thinking of making a bid (starting bid $10,000!) and renting it out. Of course this is Montana..........

[GreenHornet]

sales of existing homes fell by 2.6 percent last month

Sales of imaginary homes fell by 8% during the same period.