Monday, June 6, 2011

Contracts for Single Family Homes and Townhouses January - May 2011

Jim Duncan has the charts and data at REALCentralVA.  This data is an indicator of what has happened in the market most recently, and gives an idea what the level of completed sales will be in June, July, Augusts.  Jim's best guess is that 80-85% of contracts will close.

This blog will add commentary in due time.

At the moment, we're wading through the dozens of comments and following the links readers have posted following the bizarrely-titled Wall Street Journal article Why It's Time to Buy , which proceeds to give reasons why it might be time to buy a few years from now.  It also ignores the "known" 875k REOs, the debt ceiling theatre, the Greece/euro crisis, our own hellishly high unemployment, the coming elections, as well as more foreclosures just around the corner....

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