Home prices dropped 11% in one month, and sales surged. Think of this as a candle chart, and you get a huge RED candle on HIGH volume. Bad times ahead for realestate. If they lost 11% in price over a whole year, it would be the biggest loss since 1970, but they managed this in just one month, WOW, holy sh**!
Yea cause they were so overinflated to begin with. This isn't surprising. Pre-fab houses built in 2002-2005 in crappy locations ..no **** they are gonna depreciate. In alot of areas housing prices have actually gone up or remained stable.
sort of like that red candle that was produced this morning with its release. huge upper shadow (wick) with red body on high volume at the top of an upward trend. Interesting indeed. Good Luck!
Oh tell me more master of say-nothingness...I'll be waiting with bated breath for you to tell me the market might go up or down soon.
not to disagree with your last statement, but your first statement sounds a lot like 2/27. that said, i don't think housing has any price upside from here personally - just an observation and analogy.