What? -15% off of the 2006 numbers isn’t enough of a drop in volume for you? C’mon. 2007 is shaping up to be the worst year for sales volumes since 1996. The foreclosures will just add to that pressure. If the NOT trends continue the resulting REO resales 6 months from now will already comprise 25% or more of the sales. Think what that will do for pricing.
MLS only shows what the realty agents sell through the MLS. It won’t show the transactions that aren’t really sales, like interfamily or foreclosure transactions.
