Thursday, June 14, 2007

Wave of Mutilation Delayed

Bruce Chambers of the OC Register reports today that Orange County home sales declined 29% in May 2007 compared to the same month last year, but median home prices in the county increased a fraction, still hovering around the $635,000 mark.

Real estate agents in Orange County starting to report pick ups in sales in the area as prospective buyers who were previously parked on the sidelines waiting for the market prices to improve have become impatient and have decided "to get back in the game" now and make offers on homes in inventory.

It looks like the housing crash is over and the impending wave of mutilation has subsided. We can now all return safely to our local mortgage broker offices and hammer out that deal for the six figure home. The taps for easy home financing must have been turned back on full blast again!

And thank goodness. Happy days are here again!

1 comment:

Economic Despair said...

Checked out the numbers from San Diego recently. They are just horrible.