Prices Stabilized? Look at This.

by chughes — published on February 6th, 2008

The Kool-Aid Brigade wants you to know that prices have stabilized. They may have…but not in this universe. Check out the handful of truly scary graphs (courtesy of James Bednar, at the excellent NJ Real Estate Report) at this permalink (you may need to copy & paste in your address bar):

http://njrereport.com/index.php/2008/02/06/north-jersey-january-residential-sales/

This is chilling stuff. We appear to be well on the way toward record-high inventories, married to a record-low sales pace. Is this an environment in which prices will stabilize?

 

This entry was posted on Wednesday, February 6th, 2008 at 4:22 am and is filed under Real Estate. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site. .

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