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MA SFH Dec 2013 vs Dec 2012 - Warren Group: nominal median u

 
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Joined: 14 Jul 2007
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Location: Greater Boston
PostPosted: Wed Jan 29, 2014 3:32 pm GMT    Post subject: MA SFH Dec 2013 vs Dec 2012 - Warren Group: nominal median u Reply with quote
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Description: MA SFH Dec 2013 vs Dec 2012 - Warren Group: nominal median up 3.7%, volume down ~1% - "market is taking a breather"
URL: http://www.boston.com/business/news/2014/01/29/mass-housing-market-took-breather ...truncated...
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Joined: 14 Jul 2005
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Location: Greater Boston
PostPosted: Wed Jan 29, 2014 3:42 pm GMT    Post subject: Reply with quote
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Timothy M. Warren Jr. said in a statement. "Sales and prices set a torrid pace in the third quarter of 2013 and through October. Now the market is taking a breather."


Deja Vu. This sounds strikingly like 2006 when The NAR's talking point was that the market was making a "soft landing." Let's ignore the possibility that it was the rest of 2013 that was the abnormality whose timing just so happens to coincide exactly with a plunge in mortgage rates and that this "breather" also coincides with a reversal in that mortgage rate plunge. I'm not saying that the situation now is as precarious as it was in 2006, just that the identification of what time period was abnormal is being botched in the same way again.

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