Home Sales Tumble!

Snip...(21.3%)


U.S. home resales fell sharply in February in a potentially troubling sign for America's economy which has otherwise looked resilient to the global economic slowdown.

The National Association of Realtors said on Monday existing home sales dropped 7.1 percent to an annual rate of 5.08 million units, the lowest level since November.

A precursor to the fall....

Stocks will start tumbling soon.

The short bull market we just had last month is basically done.

BUY A HOUSE NOW THE FED IS RAISING RATES!

LOLOL!

And all the idiots still want top dollar for their places.They had better lower their prices or they are going to wind up eating them.....

But But the stock market keeps climbing. The stock market is the pulse of the economy. it's just going to keep climbing because we have all this new cheap labor! oh such good times ahead.

Real estate markets are local......in my area NY/NJ area, its a seller's market.....bidding wars and many properties closing above asking.....location location location.....

Same here in NW WA. There has been a frenzy since last year. Properties going for much more than worth, selling fast. Yet there are few jobs here. Was going to buy now but I'm waiting for another year. I think things will be much different then.

It is local but in the aggregate home sales are declining.

If your local area has job growth,or an influx of people looking to buy then you are ok. For now.

But, job growth in the usa is not happening in the wage ranges conductive to buying a house.

I think we have entered another housing bubble. An average 25 percent drop is what I see. As a minimum.
Followed by a 25 percent drop in property tax revenue for cities.
In my area homes go for 100 a sq ft. They are built like crap,and are worth no more than 70 a sq ft. But an influx of buyers escaping other areas fueled the boom. Now we are overpriced,over taxed,and under served. The "escape" has lost its charm.

Oh, since November!

Boston market is high on drugs



2bdrm 2 bth home range 450,000-900,000



silly loosh

Obama and his handlers the banksters have declared perpetual prosperity for the elite while the rest of humanity suffers under double digit inflation and unemployment.

However, since you want things to be better, and you want to think there is a chance for hope and future prosperity you will not be able to avoid the gradual slide into poverty which will lead to starvation.

Eventually you will take the chip because every day, in every way you had the opportunity to change the course of evil humanity has embarked upon.

You've sold your soul, the day of payment and reckoning is coming.

So people didn't buy houses? Maybe the drop in home sales is because people are happy where they are and are not in the mood to move?

I know that in my neighborhood home prices have actually been going up the past 6-7 years. While my place isn't worth nearly as much as I actually purchased it for 13 years ago, it's finally getting closer in price to what I owe.

pffft it is winter homes sell less in winter

or not willing to pay their prices.

Buyers market for sure.

Not seeing this in the DFW area here in Texas.

People don't do a lot of house shopping in December, January, February...well I don't know, maybe BECAUSE IT'S FREEZING outside?

Houses still selling like gangbusters in California, Washington (Seattle Area) and a few other parts of the country.

You guys are out of your minds.


I sold 3 houses this week alone, and I have 3 on the ground being built 2 of which are under contract.


If this is the slow down I'll take it.


Home "RESALES" are down because new home inventory is up due to the demand over the last two years, builders have caught up to the demand, now prices will lax some and people reselling their homes will take a hit. Gotta learn to actually read.

The housing market is rolling over, not imploding.

They are probably down due to low availability. I know many people ready to buy that cant find a house they want.

Same for the Dallas-Ft.Worth area. Seller's market and bidding wars with offers often over asking prices.

Last Edited by Hard Eight on 03/21/2016 12:43 PM

uh, no. Record prices and zero inventory is not a buyers market.

In November of 2015, I had $2.7 million PRE-SOLD for July 2016.

Since then I have only added to it, with no sign of slowing at all. On wednesday of last week a neighborhood I live near had 4 houses for sale in it. Today there are ZERO.

That is not a slow down. The only places that I see where housing markets suck are shitty liberal cities in states with state income taxes. The exception being California as so many people have fled Cali in the last 6 years that the markets have come down to a level where people might actually be able, and want to afford them.


The housing crash is coming, but its a long way off. Obama is just now putting up subprime 2.0 to implode the markets in 2-4 years.

[link to www.investors.com]

Doom off for this year as long as the GoP doesn't start a civil war by sucking democrat asshole. If you are looking to sell DO IT NOW. If you are looking to buy try to wait until after the election.

If you're smart, buy a cheap house and live like a king

Wish my friends would listen to me, I absolutely believe this..

They're all investing in the stock market and buying houses.
Everything's great!!!

:barneyidiots:

Banksters and governmentsters.

Any questions?

I've seen lots of stories about the celebs trying to unload their multi-million $$$ mansions & have had to drop their prices dramatically & still cannot sell. Makes me wonder why they want to unload so desperately? Do they know something we don't?

Banks have tightened lending in a major way. Doom coming this year...