Here’s another priceless quote from that article, from the realtor
” ironically buyers were afraid not to jump into the market as they saw prices going up $10,000 to $20,000 each month. Now, buyers are waiting for prices to bottom out.”
When prices were rising, demand was stronger. Now that prices are falling, demand is weaker.
This just proves what I’ve been saying, that lower prices actually reduce demand.
Some on this forum say they will buy when prices fall. Maybe you will, maybe you won’t. Certainly in the marketplace we are seeing that the public at large will NOT buy when prices fall.
We are back to 2004 prices, but we are not back to 2004 demand. We are not even back to 2003 demand. Where the heck are we, demand-wise?
