[quote=sdrealtor]The fall in November sales is likely due to the fall in the number of RE’s getting listed. REO’s at the low end have been driving the volume numbers as investors go bargain hunting, With the cut in REO’s hitting the market a concurrent drop in sales of these low end investor specials would be expected. These are not the homes I was referencing in my original post.[/quote]
This will also lead to numberous calls of “Its the bottom” as the Vanilla median will move back up as fewer and fewer low end foreclosure are recorded. Itll be 2007 all over again, low end sales will slow, high end sales wont (relativly) and the median will hold stong on a change in composition rather than health of the market.
This ofcourse assumes we stick on the course we are currently on with Gov bailouts, buy downs and job creation deficit spending.
