I Told You So . . .
August 24th, 2010 . by Jon ModeneThe sales numbers: GRIM.
I am sure that they will be all over the news.
“Existing-home sales plunged to their lowest level in 15 years in July as inventories soared, painting a grim picture for the housing market absent government support.
“Home resales dropped a record 27.2%—nearly twice as much as analysts had expected—to an annual rate of 3.83 million in July, the National Association of Realtors said Tuesday. Meanwhile, inventories rose to 12.5 months from 8.9 months in June, pressuring already depressed home prices. Inventories are at their highest level in more than a decade.”
This is not a surprise.
Residential real estate is a game of positioning. Of immediacy. Of marketing impact.
Give financial incentives to lots of buyers to hurry up and buy . . . they will and then prices and sales will crater.
Pull demand forward . . . and there is a snap back the next quarter.
None of this was unpredicted.
Sellers in Perrysburg today have to have their home in PERFECT condition. Priced PERFECTLY to the market. They have to be on the top of their game.
The numbers are grim – but houses that are presented and priced well are selling.
Even in this market.
Next post: Perrysburg sales numbers . . .




















