September Mid-Cities Report

September 22, 2011

by jon

1 comment

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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