Quote:
Originally Posted by Red
I believe the official drop was almost 20% in 09
No one chooses to sell with 20% discount. You are forced to by market realities, or foreclose. Your options get limited when you have no paycheck, houses are dropping and the bank calls your loans.
5%? Current prices are within 1% to where they were in Jan 14. See stats below. Since we gained 10% in 2014 then we pretty much lost all those gains already. No?
http://www.creb.com/Seller_Resources...ng_Statistics/ |
If you take peak to peak - sure.
If we go by an annual average, then the price between Jan 14 and Jan 2015 has gone up by a couple hundred dollars. My expectation is that when the Jan 2016 numbers come up, it'll be within 5% of the number we see there.
If you cherry pick the very top price, and the very bottom price, and define that as the overall housing market, then sure, a drop of 20% is possible, even reasonable.