The Problem with Market Statistics in this Market

The problem with the market reports that are posted on various blogs is that they rarely give the full story as to what is going on in the local housing market. There are short sales and foreclosures that are closing way past an expiration date on the multiple listing service. There are foreclosures that are also not being registered on the MLS. The problem with market reports is that your personal circumstances are not factord in. What good does it really do you to know that prices are down, we all know that prices are down.

The numbers of homeowners that have withdrawn their properties from the market is never factored in that I see. So we know that prices are down and we know that it is taking longer to sell a property we also know that some propoperties are selling quickly and some properties are selling over the asking price. Properties in mint condition that are priced right or have a seller that is receptive to all offers and is in the "right" location will sell in a reasonible amount of time.

Is it a good time to sell? Prices are down. If you are selling and planning to buy in a retirement area such as Florida as an example you will sell lower than you planned but you will also buy much lower than you planned. If you wait for prices to rise again you will sell for a higher price but you will also buy higher.
Not sure it makes much sense to wait. If you don't have to sell and bought within the last few years it is probably a good time to wait expecially if you bought at the height of the market. If you don' have to sell and you bought within the last two years it probably is not a good time to sell.

If you bought yoru home many years ago and have built up equity you may not sell at the amount you would have a few years ago however you will still walk away with a respectible profit.

Whether it is a good time to sell is really about where you plan to go, whether you have to sell and how long you have owned your home. If you are waiting for the market to come up and can wait then why not. However life happens while you wait.