Poll: When will home sales increase?
Home sales in the Baltimore metro area have been dropping since October 2005 and in December were down 17 percent from a year earlier. When will the number of homes changing hands go up instead of down?
It's anyone's educated guess. So put in your own two cents:
UPDATE as of 7:30 a.m. on Jan. 23: You're not a hugely optimistic bunch -- just 17 percent of you think home sales will start increasing this year. Twenty-eight percent say 2010, 20 percent chose 2011, 16 percent opted for 2012 and 17 percent say "years from now."
Two voters put in their own answers. One said "when prices vs income vs mrtg policies align." The other? "Never."
Comments
The choices are a bit restrictive. On a MOM basis, there will be a dead cat bounce in spring 2009 and then again in 2010. Recovery, per se, as a leveling out of prices will occur in late 2010, but a steady increase in prices will likely not happen until 2012 after the option arm mess is well behind us.
Posted by: Anonymous | January 19, 2009 5:12 PM
Sorry, Anon, I assumed people would know I was talking year over year. Since local numbers aren't adjusted for seasonal variations, YOY is generally the only fair comparison.
Posted by: Jamie Smith Hopkins | January 19, 2009 5:18 PM