Post Local Housing Market Observations Here!
What do you see in your housing market this weekend? Will a homebuilder let you 'pick your payment'? Slow open houses? Here's one from Arizona, "I live in Page, and the housing market has always been very poor here. We had our four-bedroom house on the market for 14 months recently and it never sold, not even an offer. It's 2,200 square feet, and we were asking $190,000."
The Union Leader. "The New Hampshire residential real estate market is a mixed bag as some areas of the state remain active, while others are experiencing a significant slowdown in sales. The largest decrease in sales prices from a year ago occurred in Strafford County, where the average price decreased from $234,898 to $211,813, or 10 percent. The Seacoast area experienced a 5 percent decrease in sales prices, going from a state high of $373,432 a year ago, to a still state leading $355,506."
"Other areas experiencing decreasing selling prices include Manchester, down $5,400, or 2 percent from a year ago, and the North County with a decrease of $6,800 or 4 percent."
From Pensacola, Florida. "A 30-thousand-home project that could be the largest residential development in the western Florida Panhandle's history is being planned by ten Pensacola area investors. Peter Aluotto, Escambia County's planning and zoning director, says the development covering more than 41-hundred acres northwest of Pensacola near the Florida-Alabama state line would be like adding a new city."
The LA Times. "Within Los Angeles County, there are at least a dozen ZIP Codes where prices have started to falter year over year, according to DataQuick. The biggest drop was in Torrance, where the median price of existing single-family houses fell 7.4% to $560,000 in the May 1-July 31 period, DataQuick said."
"Also showing depreciation were Agoura Hills, where the median fell 4.1% to $820,000, and Manhattan Beach, where it dipped 3.3% to $1.45 million."
"A growing stockpile of homes for sale is putting pressure on sellers to cut their asking prices. That's becoming evident even in downtown Los Angeles. 'Downtown has gone into a state of paralysis because prices are starting to come down,' said Stephen May, a veteran real estate broker who specializes in the area. The dearth of demand and rising supply prompted May to advise one client seeking to sell her condo unit to list it at just $10,000 more than what she paid a year ago."
"Today, there are seven condo units for sale for every one sold. Last year, the ratio was 1 to 1, May said. 'It's glut city,' he said."