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Realtors: Housing picture in state won’t improve soon

By Pete in Downtown San Diego Real Estate with 0 Comments


The sky is falling, the sky is falling… oh wait. It’s still up there. Blue, with fluffy clouds. An occasional airplane flying into our beautiful city.

According to the article in today’s UT, Homesale forecasts for next year will be at 334,500 for 2008. which is down 9 percent. NINE PERCENT people. Call in the National Guard. We are expecting low resale numbers of, are you ready, just shy of 1,000 homes per day in 2008. One thousand. Per day. The Median price of a resale home is projected to go from $576,000 to $553,000.

Let me take a moment to tell you what that means, since the UT won’t. It means that more less expensive homes will sell than expensive homes. Thus, dropping the AVERAGE. Let’s not overlook the fact that homes are STILL SELLING. Really, the way to look at this article is to say hey, what a great time to buy!!!

By the way… here is the last paragraph of the article, conveniently hidden below ads and right near readers comments so as not to arouse suspicion. I copied and pasted this.

“Meanwhile, the National Association of Realtors predicts an upturn in sales nationally next year to 6.12 million, compared to this year’s estimated total of 5.78 million. The association also believes prices will rise 1 percent to a national median of $243,900.”-Roger Showley

Please remember to always read the last few paragraphs of any article in this newspaper pertaining to real estate.