Some choice quotes:
"Aug. 9, 2005--Home sales are expected to trend down from record levels during the second half of this year, but easily set annual records for both new- and existing-home sales, according to the National Association of Realtors(R)."This doesn't even make sense; so the housing market is going to tank but it's always a good time to buy or sell, basically to do whatever increases a broker's commission:
"David Lereah, NAR's chief economist, said home sales should be fairly stable in the near term. "The housing market is probably close to a peak right now in terms of sales activity, but there is tremendous momentum," he said. "Sales are expected to coast at historically high levels into next year, but they will trend slightly downward.""
""It's a great time to sell, but it may be a better time to buy about a year from now when the market should come closer to balance. However, postponing a purchase for another year would mean higher borrowing costs, so there are advantages to getting in now - it all gets down to a buyer's needs, resources and time horizons.""
3 comments:
nice post. :-)
Marinite, just want to let you know that I check out your blog every day. Good work! Traffic will increase sooner or later.
The Calif. Association of Realtors released their monthly report on affordablity for June 2005. It shows that only 10% of Californians could afford to buy a median-priced home in Marin, assuming a 30-year fixed mortgage and 20% down.
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