RMLS Market Action August 2008

August continues the recent declining trend in our market.

“The average sale price for August 2008 was down 9.7% compared to August 2007, while the median sale price dropped 6.7%. Month-to-month, the average sale price and median sale price are both down when compared with July’s levels; the average sale price dropped 2.7% ($331,300 v. $340,500) and the median sale price was down 2.8% ($280,000 v. $288,200).”

As mentioned last week, the report has changed how days on market is computed. Total Market Time now captures any continuous listing as long as it hasn’t been off the market more than 30 days. Canceling and relisting a property within 30 days will no longer make it appear to be a new listing. Total Market Time for August is 121 days.

15 Comments on “RMLS Market Action August 2008

  1. I’m starting to think we could peel off another 15% before we bottom.

  2. Yeah, and your track record encouraging others to buy Freddy is really credible, Pal.

    Lest we forget, “GREED IS GOOD”

    The greed of millions of consumers who thought they could buy 400K homes when they only earn 60k per year. Then stock the triple garage with new cars.

    The greed of the local banks which wrote the mortgage to gain the income from fees. Then sold the mortgage on the markets.
    The greed of the markets to deny the risk of the securities

    This has nothing to do with politics, you who bought that house and cars are no better than Prince or Fuld. You extended your positions and took risks that a market would exist before your note came due.

    The Fed now has the right idea “LET THEM FALL”.

    And let’s clean out the realtors as well.

  3. At least I have a track record. All you ever do is regurgitate leftovers from whatever pinko rag you get your news from. Glad to know your hindsight is 20/20. Let me know when you actually have some of your own ideas. And I’m not your pal.

  4. Median and average price down over $20,000! I don’t know about you, but I must work for many hours to earn $20,000. The average homeowner could have paid over $1,500 in rent per month, not have to pay all that mortgage interest and the property taxes, and still have thousands left over. Not to mention renters seem to be sleeping better at night these days.

  5. You’re funny, Mr. Thrifty. Let me know when you get your GED.

  6. Really? You had all day to put something together and that was the best you could come up with? I’m not the one that writes these little high school level soliloquies. I think when you get to alluding to people stocking their triple garages with new cars they paid for with second mortgages your dipping into the mellow drama a little to deep. But obviously your in love with your anger, and I don’t want to take that away from you.

  7. “Your” is a possessive pronoun.

    “You’re” is a contraction.

    My favorite: “mellow drama.”!

    What a hoot!

    Keep ’em coming, Mr. Thrifty. I’m sure McCain will appreciate your support this November (if he lives that long).

  8. Good job catching my grammar error, but your still angry towny trash. Did I spell towny correctly? I’ll get my admin Tiff right on it!

  9. Sweetie, once again, with love: “your” is a possessive pronoun, but “you’re” is a contraction. I know this is hard for you, but a contraction combines two words, in this case, “you” and “are.” The apostrophe takes the place of the “a” in “are.” Okay, honey? Now try just once to be semi-literate in your right-wing rants encouraging readers to buy up Freddie and Frannie (that was a hilarious recommendation!), okay? People will take you more seriously. Not that they don’t now (wink wink wink wink).

  10. Honey? Are you a gum snapping waitress at a truck stop diner? The more condescending you try to be the stupider you sound. Your starting to desperate. Don’t become needy and anxious like squeezed. Just go outside have a smoke and walk it off…oh just make sure table 7 gets his Grand Slam over easy with wheat toast first.

  11. “Your starting to desperate.”

    Oh Sweetie, I’m not the one who writes like a waitress.

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