U.S. existing home sales rose in February - Mercedes-Benz Forum

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post #1 of 5 (permalink) Old 03-23-2009, 11:20 AM Thread Starter
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U.S. existing home sales rose in February

Maybe housing prices are finally at a price where they should be

"Because entry level buyers are shopping for bargains, distressed sales accounted for 40-45 percent of transactions in February," said NAR chief economist Lawrence Yun. "Distressed homes typically are selling for 20 percent less than the normal market price, and this naturally is drawing down the median price."
U.S. existing home sales rose in February | U.S. | Reuters

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post #2 of 5 (permalink) Old 03-23-2009, 12:04 PM
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Hope it is a sign that we finally hit bottom and a start of a slow recovery.

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post #3 of 5 (permalink) Old 03-23-2009, 12:20 PM
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Or possibly signs that the financial sector bailout of October is finally stabilizing the market and credit is starting to flow again.

One month does not make a trend and there had to be some pent up demand but good is good, even in small doses at this point.


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post #4 of 5 (permalink) Old 03-23-2009, 12:45 PM
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Yun who ?
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post #5 of 5 (permalink) Old 03-23-2009, 12:54 PM
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Don't worry, they'll go straight back down again :

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