I don’t mean to pick on the guy, I really don’t; I am honestly grateful and appreciate that he is quoted as saying something blunt and candid. I hope it’s the start of a trend.
The National Association of Realtors reported Thursday that sales of single-family homes fell by 13 percent last year, the biggest decline since a 17.7 percent drop in 1982. The median price of a single-family home fell to $217,800 in 2007, down 1.8 percent from 2006.
It marked the first annual price decline on records that the Realtors have going back to 1968. Lawrence Yun, the Realtor’s chief economist, said it was likely the country has not experienced a decline in home prices for an entire year since the Great Depression.
People want honest, clear analysis of the local real estate market.
Take a look at the aggregate data from the Charlottesville area for the past 5 years – what are your thoughts predictions? (Mine are coming soon)