There are growing signs that U.S. home prices are no longer rising. If this is indeed the case, now is the time for sellers or prospective sellers to take a good look at the state of housing markets around the country. To make smart decisions, home sellers as well as buyers need to find out whether home price gains are simply slowing or whether housing markets are actually topping out.
The percentage figures in the far right column show what the average gross profit was for homeowners who sold in the first quarter of 2019. For example, in what had been the hottest market of them all — San Jose, Calif. — homeowners who sold in the first quarter of this year realized an average gross profit of 84%. Yet had they sold a year earlier, the average gross profit would have been 103%.
Yet what if these quarter-to-quarter comparisons are not trustworthy, since so much depends on the average length of time that sellers owned their property? That is a fair objection. But consider this: Attom Data Solutions also publishes a quarterly report that calculates the average time sellers held their property. For the nation as a whole, the average tenure of ownership for sellers in the first quarter of 2019 was eight years. A year earlier, it was 7 ¾ years.
Tumbling home sales along with substantial growth in the number of listings is a dangerous combination. If this trend continues, many sellers will be forced to lower their asking price. This has already occurred in more expensive parts of Los Angeles and Fairfield County, Conn. Reductions in asking prices have also increased in New York City.
JosephSzlavik Looks like this may be restricted to CA and similar areas hit hard by Democrat politicians. Home prices in AZ and similar more true liberal states are on the rise.
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again, federalreserve's rape of the middle class in the meltdown comes home again you can't have a stable middle class, solid growth in a consumer demand economy if you savage the peasants to save the bankers & create multi-generational wealth for the elites....just sayin...
WHY TOL is still up ?