WASHINGTON, D.C. – Home sales during the rest of the year will be lower than earlier projections as the market works its way through an inventory and price imbalance, according to the National Association of Realtors®.David Lereah, NAR’s chief economist, said the most obvious effect in the near term will be with home prices. “A year ago we had record home sales and tight supply with buyers bidding over the asking price,†he said. “This year sales are slowing, homes are plentiful and sellers are negotiating. Under these conditions, we’ll probably see prices dip temporarily below year-ago levels as the market works through a build up in housing inventory.†New downtown San Diego condominium website.
4 thoughts on “National Association – Home prices to Dip!”
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You know when the national Realtors association says home prices are going lower….you really should but your seat belt on!
Here in the San Francisco area home values have been lower for at least the last nine months. Glad to see the Realtors are really in front of this trend!
Glad I’m in Dallas! Our real estate values are moving up.
Maybe, it’s the CA sellers moving to a more affordable state.
Law-man
San Diego is a great place to live, but all the residents here pay a huge weather premium in the value of their homes.
Taryn
San Diego California Plastic Surgery