While some financial commentators got excited by last week's news that existing home sales rose 2.4 percent in July, evidence abounds that the housing market is slowing down.
New home sales fell 2.4 percent last month, the lowest rate since March. And the S&P/Case-Shiller index of home prices for 20 major cities slipped a seasonally adjusted 0.2 percent in June.
"I never bought into the idea that we had a [housing] recovery at all," real estate analyst Keith Jurow, author of the Capital Preservation Real Estate Report, tells MarketWatch. And he thinks home prices will keep sliding.
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2 comments:
So why aren't there any good deals?
Exactly the prices are stubbornly high or I would buy.
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