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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Jim McMannis who wrote (59860)	8/14/2006 1:02:20 AM
From: CalculatedRisk	Read Replies (1) \| Respond to of 306849

DiMartino writes: Since the fourth quarter, median home prices have fallen about 1 percent, according to data Goldman Sachs mined from the National Association of Realtors. To be sure, over the last 12 months, home prices remain in strongly positive territory – up 10.4 percent. But the more recent data is negative. The numbers are even worse for condos. The median price of a condo nationwide has been falling at a 9 percent annual rate since the fourth quarter of 2005, according to Goldman Sachs. We all know developers built too many condos to satisfy the frenzied speculative masses. "It is not surprising to see relatively greater weakness in the condo and co-op market, which is concentrated in overheated coastal parts of the United States," Goldman said. dallasnews.com