I just saw that NAR reported home sales were down 8 percent in September. This marked the 13th time in 14th months that home sale prices fell from the same time the previous year. With the holidays and winters months ahead I can only predict this will even worsen.
The regions suffering the worst was the northeast down 10% (my neck of the woods), the west 9.9%, midwest 7% and South 6%.
I'm sure the Fed's will making another rate cut as most experts agree to help pull us out of the downward housing market.
With the inventory of homes continuing to climb who knows how long it will take to get back to a normal level.
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Hard to say, but I read the same article, our county is the number one county in Florida and we are also down. I have seen a HUGE decrease in buyers but there are some out there. Its just getting them to commit that is the hard part. Thanks for the post