March 24, 2008

FOLKS GOTTA LIVE SOMEWHERE:

Home sales rose, prices fell in February (MARTIN CRUTSINGER, 3/24/08, AP)

After falling for six straight months, sales of existing homes posted an unexpected increase in February which may have reflected more aggressive price cutting by sellers in some parts of the country, a real estate trade group reported.

The National Association of Realtors said that sales of existing homes rose by 2.9 percent in February to a seasonally adjusted annual rate of 5.03 million units. It was the biggest increase in a year and caught economists by surprise. They had been expecting a small decline.


Nevermind the country's current pace of population growth, both nominees this fall will be at least as much in favor of open immigration as W. Once you legalize the ones who are here--making them legal home buyers--and let them bring their whole families in, the housing shortage will be even more severe.

Posted by Orrin Judd at March 24, 2008 10:04 AM
Comments

We had our house on the market from August 2007 until February 2008. We lowered the price several times and we finally had someone buy it in January and we closed in February.

Posted by: pchuck at March 24, 2008 12:06 PM

My house went on the market in January. We've had numerous visitors, but no offers yet.

Posted by: Brandon at March 24, 2008 12:37 PM

After mom died we sold her house (this was in '06) in less than 6 weeks. The house was flipped. It went back on the market in December of '07 and sold last week (~ 11 weeks).

Posted by: Bartman at March 24, 2008 4:39 PM
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