Why is the Volume Low? Because, people aren’t buying. Plain and simple. That isn’t that hard to understand. To me, that is the real story and is more troublesome than the big drop in median price. You are on the moon, if you can’t see the number of sales, has dried up further and further, each month. Why? I’ll tell you why.
1) Prices are too high
2) Buyers are waiting for prices to drop further
3) Qualifying for loans has gotten much harder
4) Speculators and Flippers are gone.
5) Buyers have better access to RE information
6) 99.9% of the news coming out is bad about RE
7) ARM Resets
8) Record Inventory
9) Record Increase In Foreclosures
10) 1st National decline in Housing since 1991 (Case Schiller Index)
11) Deepest slide in appreciation since The Great Depression
Need I go on?
What is so difficult to understand? THE MARKET SUCKS..
Go ahead Da Counselor, jump in! Buy a house. I’m sure you will have a quite a choice.
