The National Association of Realtors(R), released it's November report yesterday. The headline was a very modest increase in national home sales. What did not make the headlines was that existing-home sales in the West were 25.0 percent below a year ago and the median price in the West was 6.8 percent lower than November 2006.
Also, nationally, existing condominium and co-op sales slipped 1.6 percent to a seasonally adjusted annual rate of 600,000 units in November from 610,000 in October, and are 20.6 percent below the 756,000-unit level in November 2006. The median existing condo price was down 0.7 percent from in November 2006.
For San Diego County, Data-Quick Information Systems reported that November median single-family resale home prices fell 7.4% and sales also fell 29.6%.[real estate, home sales, home prices, real estate bubble, housing market[/tags] San Diego California real estate agents
This is seriously getting ridiculous. When will it ever end??
Christine
San Diego California Real Estate Agents
If you ask me, housing prices and sales will continue to decline. Expect 3 years before the bottom, Commerical real-estate will suffer a steep decline as well.
Kolter
San Diego California Real Estate Agents