Posted on 06/25/2004 10:04:40 AM PDT by Pikamax
Edited on 07/19/2004 2:14:40 PM PDT by Jim Robinson. [history]
U.S. Economy: May Existing-Home Sales Rise to Record (Update1) June 25 (Bloomberg) -- U.S. sales of previously owned homes unexpectedly rose to a record 6.8 million annual pace in May and the median price rose to an all-time high, adding to evidence that the American consumer is underpinning the economy.
(Excerpt) Read more at quote.bloomberg.com ...
Citizens do not run out and buy big ticket items like houses when they're not overtly confident in their own wealth and circumstances.
This article doesn't track with other articles about housing crashes. Inventories are tight, and prices continue to rise. that's certainly true where I live. Home prices went up by 20% last year, and homes in my neighborhood sell with days, not weeks or months. I'm sure there are areas where sales are slow and prices and falling, but it's not the case here.
Can I vote for Carter?
Hurry. Don't be the last to buy at the peak of the market.
Well I wish someone would run out and buy mine!
I am sick of unprofessional real estate agents,first time buyers who expect the moon , open houses...../rant..........I feel better now :>)
Thanks for the article. We are in the process of selling our home to get the equity out of it before the value goes down. We will make $50,000 on our home. And we want to buy a home before the market and interest rates go up.
While I certainly understand your sentiments, we could probably look through the archives in May '03 and find many similar postings. Every time someone points out that the housing market is peaking, we get new reports of record sales and starts. It's whacked.
Different circumstances. Inflation has returned and interest rates are rising. It is not law that real estate prices must always increase.
Highs and lows in real estate mean little, particularly in close-in suburban areas where housing is finite. In ten years, those who decided not to buy homes now for fear of a bubble...will wish they did.
LOL, I couldn't agree more.
This hurts Kerry bad.
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