Posted on 08/22/2023 9:53:52 AM PDT by ConservativeInPA
KEY POINTS
• The median price of a home sold in July was $406,700, an increase of 1.9% from July of last year.
• Sales fell month to month in all regions except the West, where they gained 2.7%. Sales fell the most in the Northeast, down 5.9%.
• There were 1.11 million homes for sale at the end of July, 14.6% fewer than July 2022 and about half of the pre-Covid supply.
Sales of previously owned homes dropped 2.2% in July from June to a seasonally adjusted, annualized rate of 4.07 million units, according to the National Association of Realtors.
Sales were 16.6% lower compared with July of last year. Homes sold at the slowest July pace since 2010.
(Excerpt) Read more at cnbc.com ...
Nope...
A good time to sell?
the Covid Great reset is pretty frightening
I can remember back to the 80' a similar thing happened at the start of the Terrorism Great Reset that had its zenith with 911
Climate change is still in a rut but Terrorism and COVID got a lot of Traction
Good gravy.....I must be a pauper..
even living on the road in a travel trailer aint cheep
Supply is low and prices have not dropped significantly yet, so if you live in an area that people are moving to it could be a good time to sell.
“Sale prices gained 2.7% in the West”
Go figure.
If you sell, where do you live? I plan to stay in my home forever (at least until rising property taxes force us to sell).
Sales are brisk in Atlanta.
Bidenomics!!
******************
We will have a lot of fun with “Bidenomics” over the next 14 months.
It’s a gift, an election 2024 gift for opponents of Brandon.
“ A good time to sell?”
Depends. Will you make enough off the sale to pay cash for your next home, or will you have to take out a 7% loan to buy an overpriced house?
Bidenomics deters buyers with high prices, high property taxes, and high mortgage interest rates. That makes sellers with low interest rate mortgages hesitant to sell, too.
*If you sell, where do you live?*
Good question. Points to Florida-over 55 community. Retired. Spend the winter there until April.
If the Argentines vote in this libertarian with the bad haircut that might be the place to be. April till mid-June. Then who knows?
If Trump wins in November I’m moving’ to DC. Heh heh.
Portland city residents are finally getting the message —and trying to sell out.
NO ONE is buying to MOVE INTO Portland !!!!
Go ahead and sell. But it’s cheaper to stay put if you possibly can. You have to live somewhere, rent is sky high, and a new mortgage has 7+ % interest attached. Of course if you can pay cash for a new house be my guest.
I’ll have $300k. It’s not that much but a condo in Fla. can be had or 150. It’s the HOA that will get me and that’s what the other 150 is for. Not up to maintenance anymore. Instead I’ll let the condo board harass as I won’t be alone.
So Biden and his team are left to figure out the disconnect between his administration’s measurable economic successes and how voters feel about them.
Ganderson: Biden's job now is to remind voters how well he's done his job
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