[airics]

I spent over 40 years in cleveland....you couldnt be farther from the truth

[aardogfsu]

Originally Posted by airics

I spent over 40 years in cleveland....you couldnt be farther from the truth

Even Anthony Bourdain loathed going to Cleveland just to do a single episode.

[ddrhazy]

http://files.zillowstatic.com/resear...gas.394775.pdf

http://files.zillowstatic.com/resear...gas.394775.pdf

[Raiderman]

Originally Posted by Melanie LA_LV

2/23/2015
Existing Home Sales Dropped 4.9% In January As Housing Market Cools

"The weather isn’t the only thing that’s a bit frigid right now: according to new data from the National Association of Realtors, the housing market kicked off 2015 with a chilly start. Led by sharp sales declines in the Northeast and the West, the NAR reported Monday that sales of previously-owned homes fell more than analysts expected"

Existing Home Sales Dropped 4.9% In January As Housing Market Cools - Forbes


2/23/2915
Sales of existing homes sag in January

2/23/2015
Jan. existing home sales plunge

2/23/2015
Home sales dip despite low mortgage rates; are prices too high?

Appears not to apply to the Las Vegas Valley, as evidenced by the local numbers. Perhaps you should post that in the real estate forum, so people have an idea what is going on nationally, as opposed to this local forum.

[Raiderman]

Originally Posted by Melanie LA_LV

This is news from today and last time I checked LV was still part of the US, so this is local info as well.
In reality Las Vegas market is more volatile then other parts of US due to heavy activity of investors and speculators.

Why so disappointing numbers????? I thought we have housing recovery?

It's too broad of a brush. Do you think the market in Los Angeles is the same as Bangor, Maine?

My point is that numbers are up here, while they may be "disappointing" elsewhere. I'm not sure, though, I haven't checked the numbers in Asheville, NC, as it doesn't apply to this market..

Dammit, I just got sucked in by Trader Vic, didn't I?

[Tek_Freek]

Yeah, you did.

[Raiderman]

Originally Posted by Tek_Freek

Yeah, you did.

Yeah, I know..

[OmegaSupreme]

The median price of single-family homes sold through MLS was $200,000 in January, up 8.1% from $185,000 in January 2014

That's a pretty healthy gain in my book

Gains aren't going to be as spectacular as they were since we are now going off a larger base.... a few years back, a $20k gain would equate to 13% on a median price of $150k.... today, a $20k gain equals 10% on $200,000

What's more, take a look at unemployment and GDP numbers... the economy is healthier than it has been in many years. People's credit ratings are recovering and there's all sorts of financing options available, especially to first home buyers

Right now, owning a home is within the grasp of most people, though they may not even realize it.... If house prices continue to increase, then the reality (that exists now) becomes a pipe-dream

[SportyandMisty]

Originally Posted by Melanie LA_LV

...

Why so disappointing numbers????? I thought we have housing recovery?

The analysis I heard on CNBC this morning (US existing home sales hit nine-month low, supply weak) was that the issue is a lack of inventory of homes:

"...U.S. home resales fell sharply to their lowest level in nine months in January amid a shortage of properties on the market..."

Curiously enough, a few hour later, unrelated to the numbers release, there is a piece about mortgage money may be drying up: There's a new mortgage crisis brewing

[logline]

Originally Posted by Raiderman

Dammit, I just got sucked in by Trader Vic, didn't I?

Yup!