The first annual decline since the Great Depression??? Wow. Wait until that news sinks in around the Puget Sound.
The national median home price is poised for its first annual decline since the Great Depression, and the supply of unsold homes is at a record 4.2 million, the National Association of Realtors reported.
That's the most bearish article I've seen to date from the MSM. Unfortunately most people aren't reading Bloomberg or Marketwatch, but I'm sure we'll see more of these articles in distinguished periodicals such as USA Today pretty soon.
The news of price declines does not hit home until most people know someone that has attempted to sell a home in the last year and had a major problem in doing so.
This has only JUST become the case in San Diego, and it's by no means the vast majority. I just moved back from San Diego and only now is the conversation changing after months of nightmares for sellers. It's surprising how slow the news travels.
I hope it happens quicker in Seattle, I really do.
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This has only JUST become the case in San Diego, and it's by no means the vast majority. I just moved back from San Diego and only now is the conversation changing after months of nightmares for sellers. It's surprising how slow the news travels.
I hope it happens quicker in Seattle, I really do.