Interesting read to gauge a housing bottom…..
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my neighbor a couple doors away is a re agent. couple of weeks ago i said that i thought that the bottom was in. i dont call tops or bottoms.but what leads me to believe this,is the length of time that foreclosed homes stay on the market,including non foreclosed homes. the length of time has become shorter from the “for sale” till sold. and after explaining it to him he had noticed the same thing,so i said,the bottom is here, how long it stays this way is something else,and gauging by unemployment figures we’ll be here for a while. the only distressed prices for homes will be the ones sold by reo’s, hud, and fha. because they will be the more desperate sellers and not the non foreclosed seller.
@drummerboy,
good points. if they keep bulldozing homes then we will find the price bottom sooner….’cause there is still a lot of inventory that has not hit the markets yet