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  • From: Rob <becida AT comcast.net>
  • To: homestead AT lists.ibiblio.org
  • Subject: [Homestead] Falling housing prices
  • Date: Sat, 28 Oct 2006 06:15:15 -0700

I'd think housing prices will affect land prices.


Rob
becida AT comcast.net
Washington state

Homestead advice-

Buy a house. If you have a house, buy land. Pay for the land with city jobs, prepare your family for a rural lifestyle, accumulate tools and skills. When the land is free of debt sell the city house and go make a good life.
-Gene GeRue

~~~~~~~~~~~~~~~~
http://seattlepi.nwsource.com/business/290172_economy27.html


Friday, October 27, 2006

Builders cut prices on new homes

THE ASSOCIATED PRESS

WASHINGTON -- After offering incentives ranging from fancy kitchen upgrades to free swimming pools to move a glut of unsold homes, builders finally decided they needed to get serious about cutting prices.

The result was the biggest decline in median new home prices in 35 years. And analysts are predicting more price cuts to come for both new and existing homes as sellers deal with near-record levels of unsold dwellings.

The Commerce Department reported Thursday that the median price for a new home sold in September was $217,100, a decline of 9.7 percent from September 2005.

That was the lowest median home price in two years and the sharpest year-over-year decline since December 1970, providing dramatic evidence of the slowdown in the once-booming housing market.

The median price is the middle point, where half sell for more and half sell for less.

The price decline for new homes followed a report Wednesday that prices in the much bigger existing home sales market also dropped on a year-over-year basis in September by 2.5 percent, the largest decline in records going back nearly four decades.

The price decline for new homes in September came while the sales pace picked up, rising by 5.3 percent to a seasonally adjusted annual rate 1.075 million homes.

It was the second consecutive increase in sales after three months of declines. But even with the improvement, sales activity is down 14.2 percent from a year ago





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