bostonbubble.com

[Guest]

Here we go again

Some industry analysts see signs that the housing market may be starting to turn around, with increasing stability in the mortgage sector.

The National Association of Realtors Senior Economist Lawrence Yun notes in NAR's latest market outlook that consumers appear to be waiting for "additional signs of market stabilization. There are more people with financial capacity now than in 2005, but many are trying to market-time their purchase" - which makes the exact timing of the housing recovery more uncertain, he says. Still, Yun says that 2007 should be the fifth highest year on record for existing-home sales.

Florida's median sales price for existing single-family homes last month was $208,900; a year ago, it was $239,900 for a 13 percent decrease.

The median is the midpoint; half the homes sold for more, half for less.

In December 2002, the statewide median sales price for single-family homes was $145,300, for an increase of 43.8 percent over the five-year-period, according to FAR records.

The national median sales price for existing single-family homes in November 2007 was $208,700, down 3.7 percent from a year ago, according to NAR.

In California, the statewide median resales price was $488,640 in November;
in Massachusetts, it was $330,000;
in Maryland, it was $293,421;
and in New York, it was $215,000.

[admin]

Thank you for taking the time and effort to bring this article to everybody's attention. I would like to request, though, that you cite the original article when you copy quotes from it so that the source is clear. I believe this was the source in this case:

http://www.prnewswire.com/cgi-bin/stories.pl?ACCT=104&STORY=/www/story/01-24-2008/0004742393&EDATE=

I do agree with your sentiment - this is just more of the same false optimism from the NAR.

- admin

[Florida Gators]

[admin]

Clever handle. Is this what you meant by "Florida Gators": http://www.investopedia.com/terms/a/alligatorproperty.asp ?

- admin