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Housing Market May Not Recover Until 2009! Our Predictions!NOTIFY ME when this article is updated! (click here) Take the Survey and tell us what you think! (click here)
The information in this article is merely an opinion on the real estate market. It uses U.S. Census Bureau data on New Home Sales (not existing homes or non single family homes) to derive a proprietary thesis. No statement within this article should be viewed as a suggestion or statement to buy or sell real estate for investment purposes or any other purpose! The data was garnered from sources believed to be accurate but is not guaranteed. The 2008/2009 real estate recovery prediction is a forward looking document which is only an opinion. Jump to the latest update by clicking here! Data from the U.S. Census Bureau has revised previous numbers down and may now point to a recovery that is delayed into 2009. The following data and charts reflects new home sales only unless otherwise stated.
As with all real estate market predictions they are subject to being wrong and are only opinions. Nevertheless, just as with our Strong Dollar Project, we will continue to monitor and update the situation. If we are right about the bottom we will certainly indicate that in future reports. And if we are wrong then the whole world will know! Analyzing real estate data is much like analyzing any form of demographic data - data which can be vital to your career! And at Data Choices we love to analyze data and give you choices! As always we stand on integrity and hard work. If you would like to be emailed anytime this report is updated simply enter your email address below and click the SUBMIT button. We may also send other articles and items that may interest you in the near future! This article will continue to be updated as we analyze the pricing data and attempt to garner further information about a possible recovery in the housing market. This report, and others like it, are supported by our advertisers. If you see advertisements that interest you, please visit our sponsors by clicking on the associated links!
The National Association of Realtors has released its Metropolitan Area Existing Single Family Home Sales report on July 14th 2008. We found the differences between the national data and the Spokane Washington and Coeur d'Alene Idaho home sales data to be quite interesting! Final 2007 data for the Coeur d'Alene/Kootenai County housing market can be found in this 2007 Home Sales Report. For Spokane Washington Median Prices are reported by NAR as follows in thousands of dollars:
Preliminary first quarter figures show a significant rise in prices for existing home sales over the first quarter of 2007! Compare that to the National picture for home sales:
What a remarkable difference! Nationally the annual reported change in Metro Existing Home Sale prices is down in the first quarter of this year versus the first quarter of 2007. Meanwhile in Spokane a first quarter year over year price increase was recorded, at least in the preliminary report. This continues to show the underlying resilience of the North Idaho and Spokane area markets despite the overall housing drag on a national basis! This Data Choices prediction is based upon New Home Sales data only and utilizes a proprietary algorithm, that, as far as we know, is not used anywhere else! Make sure to add your name to the email update list so you will know when this page changes! Real Estate predictions are great - but so is our blog! See the Blog for recent news on Countrywide and how mortgage defaults affected them! Information in this report is deemed to be reliable but is not guaranteed.
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