Re: Home prices falling faster - down 17% in February

<retrogrouch@[EMAIL PROTECTED]
> wrote in message 
news:k2ae24d9q78d0usg0g8kf670m4letfcthg@[EMAIL PROTECTED]
> On Sun, 11 May 2008 16:00:03 GMT, "Jeff Strickland"
> <crwlr@[EMAIL PROTECTED]
> wrote:
>
>>IN MY PAPER TODAY ...
>>
>>The number of homes sold in April was up for the 4th straight month. The
>>median price continues to fall, but the volume of sales is up, and many
>>sales have multiple offers that result in the occasional sale taking
place
>>at a point or two above the asking price.
>
> You're being duped.  Look at the year over year figures. It's a
> favorite of these rah rah rags and economic boosters to post seasonal
> variations as signs of "recovery".   Thus yeah over four months sales
> are up. But November sales are always lower than April sales.  But
> match the year over year by month and it's a very different story.
>
> You're in the Boston area?
>

No, I not in Boston.

They are matching year over year sales of the same month a year ago. April

and the preceeding three months have posted higher sales than Arpil and
each 
of the preceeding three months one year ago. That's what the Multiple 
Listing Service shows.

This ONLY looks at the number of sales, other factors include the falling 
median price and the number of foreclosures persisiting or increasing.

If they sold the same number of houses in my area at the pace of April
sales 
and there were no new foreclosures, there would be an 8 month supply of 
houses to clear out. The picture is far from rosy, but it doesn't suck
quite 
so badly either.