Judy Weil

Homebuilders Agree: January Was A Good Month

Dear Bill,

Interesting comment. Are you seeing banks lower their prices on REOs or just builders and investors unloading what they have?

After seeing prices go down so drastically in many places, I keep wondering how prices could go down so much further as projected by so many economists and insiders. I think Schiller is expecting 10%-15% more declines nationally.

I've been wondering lately if maybe the hardest-hit areas like California, Florida, Nevada and Arizona, are starting to stabilize in terms of prices (sales are up in California and Fla.) and that maybe the further declines that are expected nationally will come from the places that have not been hit so hard yet, like New York, Seattle, and North Carolina, etc.

The fact that you are seeing (cautious) signs of a bottom in Nevada strengthens that idea-- but who knows?? There have been signs of stabilization before and then further declines.

Anyway, I appreciate your thoughts, as always,

Judy

Mcrem51 and Chipseal, glad you find this useful.