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Old 08-21-2009, 09:55 AM
 
1,983 posts, read 7,128,498 times
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July home sales surge more than 7 percent - Yahoo! News (http://news.yahoo.com/s/ap/20090821/ap_on_bi_ge/us_home_sales - broken link)

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Old 08-21-2009, 10:54 AM
 
256 posts, read 788,495 times
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in the USA not in NJ.
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Old 08-21-2009, 10:57 AM
 
Location: NJ
31,774 posts, read 36,816,965 times
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"
Sales of foreclosures and other distressed properties made up about a third of all transactions last month, down from nearly half earlier this year. In places like San Diego and Orlando, buyers are snapping up foreclosed properties at deep discounts, and real estate agents are pressing banks to release more foreclosures onto the market.
Those sales helped drag down the median sales price by 15 percent to $178,400."
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Old 08-21-2009, 11:04 AM
 
1,930 posts, read 3,212,002 times
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Quote:
Originally Posted by MoorestownResident View Post
July home sales surge more than 7 percent - Yahoo! News (http://news.yahoo.com/s/ap/20090821/ap_on_bi_ge/us_home_sales - broken link)

Price, not sales! Thats what we care about!
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Old 08-21-2009, 11:07 AM
 
744 posts, read 1,323,604 times
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Quote:
Originally Posted by Dingo99 View Post
in the USA not in NJ.
That's right, the NE went up by almost double the national average.

Of course y-o-y the volume for the NE is up 3% while the price is down 15%.

All the numbers are meaningless anyway, since the government is interfering so much the underlying fundamentals are lost in the noise.

If the government would butt out then sales volume would be through the roof, but no they have to interfere.

All that matters now is whether the US economy is going to have another severe sudden drop in the next couple of years.
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Old 08-21-2009, 11:46 AM
 
268 posts, read 726,929 times
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How bout this for a dose of reality?

One in 8 N.J. homeowners face foreclosure or are late on payments - Real Estate - NJ.com
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Old 08-21-2009, 11:52 AM
 
Location: NJ
12,285 posts, read 33,863,155 times
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if you care about sales volume only, this is good news. if you care about price stabilization, it's not.
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Old 08-21-2009, 12:13 PM
 
Location: NJ
31,774 posts, read 36,816,965 times
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the prices will stabilize after they tank
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Old 08-21-2009, 12:18 PM
 
1,983 posts, read 7,128,498 times
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Quote:
Originally Posted by tahiti View Post
if you care about sales volume only, this is good news. if you care about price stabilization, it's not.
Quite the contrary, price has nothing to do with it. Sales volume is what is important right now. That's what primes the pump. Prices are stable out there right now with 4 months of increasing sales.
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Old 08-21-2009, 12:20 PM
 
Location: NJ
31,774 posts, read 36,816,965 times
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Quote:
Originally Posted by MoorestownResident View Post
Quite the contrary, price has nothing to do with it. Sales volume is what is important right now. That's what primes the pump. Prices are stable out there right now with 4 months of increasing sales.
i think price is very important to a lot of people looking at this data.
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