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JGPM,I'd be cautious about an increase in new home sales...

  1. zanzibar
    315 Posts.
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    28/10/08
    10:54
    Post #: 4437030
    JGPM,

    I'd be cautious about an increase in new home sales necessarily suggesting a bottom in real estate prices.

    Eg. have a read of this article.
    http://themessthatgreenspanmade.blogspot.com/2008/10/san-diego-home-prices-are-off-chart.html
    The 2 charts indicate that around the LA area, home sales have roughly tripled since January, yet in that time, the average price has actually decreased (a further) 20-30%.


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