What’s the opposite of looking for a silver lining? I guess whatever it is it what we piggington’s will do with these numbers.
Here’s my attempt: just taking the average price for the July and Aug. closings (# of closing/value of closed sales), Aug. appears to have come in 3% lower average price than July.
A 3% price drop in a single month is a big deal.
I suspect lots of buyers saw listing prices being cut and thought they would get a “good” deal.
Still, its hard to believe there are the same number of buyers out there with the demise of subprime and higher priced jumbos.
