The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: Paul Viapiano who wrote (6066)	10/17/2002 4:50:35 PM
From: ild	Read Replies (1) of 306849

Paul, just read this piece in LA Times. As far as I understand what they list as September sales is what was closed in September. Sales closed in September went into escrow in July and beginning of August. That definitely was the peak of the prices. I'm in Orange County, CA. What I see in my neighborhood is that asking prices are lower than last sale prices. Today I spoke with local RE agent. In August inventory was very low. Now inventory is back up. She said that the music stopped in mid-August. People keep looking but not making offers. IMHO that was THE peak. I think in a year the prices will be lower. BWDIK

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