Maybe that's the medicine we need here. Lower real estate prices, that is. Well, I understand, no one wants to see his house value drop, and that includes me. The equity you were counting on could be 5% less in a matter of months. Or 10% less. Or even more than that. Anyway, the market here is still reeling and the sooner we get to the bottom of it, the sooner it can settle down and then return to normal again. Right now we are in a wait mode that serves no purpose.
According to a local analyst Dennis Smith, in May the price of a new single family home declined 3% to $308,874, when compared with April's figures. To read the complete article, please click here.