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Strategies & Market Trends : Booms, Busts, and Recoveries
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To: Maurice Winn who wrote (71328)8/26/2009 7:40:15 PM
From: Ilaine  Read Replies (2) of 74559
 
It's hard to judge based on a month or so of data points -- my guess is that the more desirable homes are finally moving because the lenders have slashed prices to move inventory and interest rates are historically extremely low.

At the height of the bubble, as is historically the case, buyers were snapping at anything and everything in a frenzy, hoping to flip their otherwise smelly, dismal and dank purchases to a greater fool. These houses aren't even being listed anymore, the owners are trying for short sales (silly, taxes lurk) or if they talk to a good lawyer, bankruptcy. My case load burgeons.

Summer is high season for purchasing new abodes, as homebuyers want to start their kids in a nice new school district in September, so July doesn't really count.

Let's wait for November - December - January before we call a bottom.
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