To further bolster support for the information which I have been giving you about the dire state of the housing market, please read Joe Manausa's weekly market update HERE. The graph which he provides detailing sales over the past 20 years is pasted below.
Remember, this data comes on the heels of the Clear Capital report that US home prices dropped 5.9% in just two months. I cautioned you readers about the fact that such a decline in home prices was not just a national, but also a local, phenomenon. You can see evidence of it in Joe's report also (this is a sales graph, not a price graph, but it shows weakened demand which translates into lower prices, as I have previously stated).
Stay tuned for more market data. As always, I'll release the weekly sales report on Thursday.
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