People are starting to wonder about that. I hear it more and more.
And I don’t know the answer. But whether we are or not it may help put things in perspective to trace our path from the glory days to where we are today.
First, the number of homes sold annually, which is often a good predictor of where prices are headed
Then, average and median sold prices over that same period
So though sales are off 46% from their peak in 05, sale prices are off just 24% from their peak in 06.
But 2 positive things did occur in 2009/2010; in 2009, for the first time in 5 years the number of homes sold held steady rather than fall, and, so far this year, sales are up measurably vs 09.
And, for the first time in 4 years, average sale prices have gone up a notch, rather than down. Median prices, however, have slipped.
So maybe, sales & prices are at least flat rather than falling.
And over in this corner - our high-end market, which is definitely not anywhere near bottom, with sales off 70% from its 06 peak and scads more spec homes – a calamity in slow motion.
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