https://clucerf-archive.callutheran.edu/2010/07/21/understanding-the-decline-in-new-home-sales/ Wed, 28 Jul 2010 19:43:38 +0000 hourly 1 http://wordpress.org/?v=4.1 https://clucerf-archive.callutheran.edu/2010/07/21/understanding-the-decline-in-new-home-sales/#comment-507 Thu, 22 Jul 2010 12:03:47 +0000 http://www.clucerf.org/blog/?p=574#comment-507 Bill- good thoughts, particularly that prices are more sticky than sales. In our area of the country (SE), we are starting to see owners become somewhat less sticky as their houses have not sold in months/years. We live on the edge of the University (of S. Carolina) and 3 houses in our area have just sold , each after being on the market for 2 years or so. I haven’t seen the sales prices yet but I strongly suspect the owners (finally) brought their prices down to where the actual market is today. Like you, we think real estate may have further to go. We often tell our clients that market bottoms (real estate or financial assets) is not so much a place but rather an area/range.
Hope to see you when we come out in October to visit John. He has had a busy summer taking 3 courses so he can wrap up in May and enter your M.S. program. See you soon. James

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