Tiptoeing for the exits
March 26th, 2006 by 
InLibrisLibertas
The following from Jon Lansner’s blog at the Orange County Register, giving a bubble update:
“Mid-March: Prices +9.6%; volume -21.6%
Forget the first two months of the year. They’re wacky. It’s now prime shopping season. And the first peek — fresh stats from DataQuick — shows if the current trends hold, March will be be the fifth straight month of year-over-year sales declines and the worst one-year drop since October 2004. For 22 business days ended March 15:
| Median price | Change from ‘05 | Volume | Change from ‘05 |
|---|
*-Homes, condos and apartment conversions”
This clearly shows how the builders - “New residences” line - are the first to adjust prices in the downturn. As professionals, they are saying “Feet, don’t fail me now” while the amateurs are clinging to their high prices - and not selling. See Real Estate Prices for the original discussion of this tendency.
Posted in Real Estate | 