Hey, I thought that the glut of foreclosed homes had driven U.S. home prices down so much that buyers were jumping back into the market?
Didn’t I read that somewhere?
Oops, sorry, my bad — pardon the interruption . . .
Housing Prices Deflated
Unsold Inventories Pile Up
charts courtesy of Haver Analytics, Merrill Lynch
Existing Home Sales, Non Seasonally Adjusted, Explained (March 2008) http://bigpicture.typepad.com/comments/2008/03/existing-home-s.html
How Counter-Productive is Realtor Association Spin? (March 2008) http://bigpicture.typepad.com/comments/2008/03/how-counter-pro.html
Wave of Foreclosures Drives Prices Lower, Lures Buyers
Oversupply Triggers Lenders’ Fast Sales; Mr. English Bids
JAMES R. HAGERTY and KRIS HUDSON
WSJ March 25, 2008; Page A1