Newsweek article by McGinn - Are homeowners in Denial?
I thought the second page was pretty interesting.
Then there is the article: America's fastest dying cities - of which where I live, Dayton, was listed as one. Dayton very recently lost a bunch more jobs. I don't know if they were included in the article data so heck maybe its dying even faster.
So here I am struggling with whether to buy or not - I'm in that awkward time period of not wanting to retire here in 8 years but not wanting to rent either.
Then I compare the Dying city article to the Area Board of Realtor assessment. Are they in denial? I don't know. I think if I sit the fence long enough thats a decision too:)
http://www.msnbc.msn.com/id/26127523/
Dayton Real Estate Weathering the Storm
The Dayton-area real estate market continues to weather the storm of the housing market. June sales figures, as reported to the Dayton Area Board of Realtors Multiple Listing Service, virtually mirrored MayÂs totals. The 1,081 single-family units reported sold reflected a level of activity virtually unchanged from the 1,102 sales reported a month earlier. JuneÂs total was a decline of 340 units compared to June of 2007, before the housing slump had fully set in to our local market.
JuneÂs transactions resulted in $156.6 million in sales activity, which translates into an average sale price of $144,876. This is the highest average sale price since June of last year, albeit a 4% decline compared to the $150,919 average price reported in June 2007. The median sale price for this June was $125,000, just a 1.54% decline in year-over-year comparison.
For the first six months of 2008, a total of 5,611 single-family sales represent a decline of 18.4%, compared to the 6,877 transactions reported in the January-June period last year. A total sales volume for the period of just over $723 billion produced an average sale price of $128,855, and a median sale price of $110,230, declines of 4.5% and 5.5%, respectively. These declines are far less steep than in many parts of the country, which once again confirms the stability of our local home values.
Single-family listings submitted in June totaled 2,546, which is a 13.7% decline compared to a year earlier, when 2,951 listings were added to the inventory. JuneÂs submissions brought the year-to-date listing total for 2008 to 15,061, just 5.8% fewer than the 15,988 listings submitted in 2007 during the same period.
The total number of single-family listings available at the end of June stood at 10,488, and represented a supply of 9.7-months based on JuneÂs sales pace. This is a slight increase in supply compared to the end of May, when a 9.3-monthÂs supply was available. In 2007 at the same time the listing inventory was greater at 10,534, but the supply ratio stood at only 7.4-months due to the more rapid rate of sales during June 2007.
Here is a link that might be useful: Are home owners in denial
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sweeby
marys1000Original Author
sweeby