The September Mid-Cities report is live and you can access a copy of it here.
There are some interesting trends in Altos mid-cities composite and the Altos national composite. The markets in composite are telling a similar story about what’s in store for the winter.
From the Altos Research September 2011 Mid-Cities report:
“Dr. Ray Stantz: My parents left me that house. I was born there.”
“Dr. Peter Venkman: You’re not gonna lose the house, everybody has
three mortgages nowadays.” -Ghostbusters
“Three mortgages would have been extreme, even in the boom days of the 2000s. Nonetheless, over-leveraged real estate had a profound effect on today’s housing market. We’re not out of the woods yet and the market trends tell us we’re settling in for a long, cold winter.
This month prices decreased in 13 of the 20 markets, and inventory decreased in 19 of the 20 markets. The market trends indicate a further cooling of the market as we approach the fall.” (read more)
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