Informational Post – New Home Sales Nosedive in August

What this means to you is, your insurance value versus what you could sell your home for are going to continue to be different for quite some time.

My suggestion is to enjoy your nest and make improvements to it and in 3-5 years when things return to “normal” whatever that is – then start looking?

Existing-home sales in the U.S. unexpectedly fell in August, declining by 2.7% from July to a 5.10 million annual rate and breaking a string of four increases.

Distressed property sales have pushed prices lower, year over year. The median price for an existing home last month was $177,700, down 12.5% from August 2008. Sales year over year were up 3.4% from the pace in August 2008, the report from the National Association of Realtors said.

http://online.wsj.com/article/SB125379520447237461.html?mod=djemalertNEWS