HERE ARE SOME NATIONAL STATISTICS

Existing home sales dropped 9.6% in February. The market is 2.8% below the pace set in Feb. 2010. Some economists think this is normal given the type of recovery we are experiencing. Home sales seem to be constrained by the dual problem of unnecessarily tight credit and unacceptable appraisals which do not support prices negotiated between buyers & sellers. The national median existing-home price for all housing types was $156,100.00 in February. This was 5.2% below the February 2010 value. Get this though- sales of newly built single family homes declined 16.9% in February. This is a record low and is certainly a reflection of consumer uncertainty regarding the overall economy. So, is this bad news? Well, it's not good news but it's better news than you would have heard on the subject a few months ago. For those of you who are in a position to buy-now seems to be the time to buy. NEXT WEEK MORE ABOUT THE SUPPOSED TAX ON THE SALE OF REAL ESTATE TO SUPPORT THE PRESIDENTS HEALTH CARE BILL.