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Jonathan Sweet - Remodeling Notes


Jay Sweet
As senior editor of Professional Remodeler, a lot of information crosses my desk. This blog will be a chance to share some of that with you, with an immediacy not possible with a monthly magazine. It's also your chance to tell me what you think about what I have to say. Whether you agree or disagree, I hope you won't be shy.

Tuesday, May 13, 2008

Home prices get slammed again

May 13 2008 2:23PM | Permalink | Email this | Comments (0) |
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As I noted last week when talking about the NAHB forecast, home prices and existing home sales are the two biggest factors in remodeling on a macro scale. 

So bad news in the latest National Association of Realtors report today: National median home price dropped 7.7 percent in the first quarter and prices dropped in 100 of 149 metro areas. Apparently, price drops in 67 of the markets surveyed is a record high in the survey, which NAR has been using since 1979. You can read the AP article here. (The full report is usually available online at realtor.org, but as of this writing isn't there.) 


By the way, gotta love the happy-happy-joy-joy spin from NAR (Headline: "Prices up in 1 of 3 Metro Areas") that you can read here.

UPDATE 5/14: The full report is now available at http://www.realtor.org/research/research/metroprice.

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