SW Missouri Real Estate News

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Negative housing news kicks into higher gear

 

This isn't good news for people who want to sell a home in Springfield MO but unfortunately we don't make the market, we just have to do everything we can to stay on top of it and react accordingly. Read this market breakdown from Dan Miller at Keller Williams Realty, Madison Wisconsin.

 

One of the reasons we have been emphasizing aggressive pricing is we expected a big increase in negative housing news with the July release of the National Association of Realtors existing home sales report. That happened yesterday. July existing home sales were down 25.5% from last July and down 27.2% from June. (The economics blog Calculated Risk does a great job of breaking down the numbers).

Now the headlines from CNBC, MarketWatch, CNN, MSNBC, Fox and every other major news outlet are reporting the biggest drop on record for monthly home sales.

Expect more downward pressure on prices. The increase in negative news will cause some sellers to bite the bullet and drop their prices to levels that will guarantee a sale, while buyers will use their increased leverage to negotiate lower prices and better terms.

The stakes have never been higher for those sellers whose pricing remains above the market.

Dan Miller, Realtor, Keller Williams Realty and www.DaneCountyMarket.com

About The Authors:  Betty Knowles is a full-time REALTOR® with Coldwell Banker Vanguard REALTORS® in Springfield, MO and proudly serves on the board of the Greater Springfield Board of REALTORS®.  She also served as President of Women’s Council Of REALTORS® in Southwest Missouri.  Betty’s genuine passion is helping people buy and sell homes in Springfield, Ozark, Nixa, and surrounding communities.  

John Knowles is likewise a full-time REALTOR® with Coldwell Banker Vanguard and a member of the Greater Springfield Board of REALTORS®. A self-proclaimed computer geek, John is talented at developing real estate websites, videos, photography, blogs, search engine optimization and other technical skills essential to marketing and selling real estate in Springfield MO.

Together this dynamic team makes up TeamKnowles REALTORS®, Spouses Selling Houses!  They are dedicated to doing what it takes to sell your home in the greater Springfield real estate market, or help you purchase a home that fits your particular needs. Give TeamKnowles a call today; you’ll be glad you did!

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Comment balloon 1 commentBetty Knowles • August 25 2010 07:22AM

Comments

The Pinehurst, NC market also saw a decline year over year in July and a significant drop from June.  In my opinion this is evidence that the stimulus was a false positive for a few months. 

Posted by Dawn Crawley, Find Pinehurst Homes (Dawn Crawley Realty) almost 8 years ago

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