Home sales sluggishness in the news

June 30, 2006

A few months ago the majority of headlines from Inman News was about real estate fraud of one form or another. Here are the Inman headlines from a couple days ago:

Riskiest real estate markets in coastal areas
Thirteen markets have more than 50% chance of price declines

'Shifting' economy impacts consumer confidence
Despite improvement, current outlook mixed

Existing-home sales slow in May
Nationwide median price rises 6% from a year ago

Home sales plunge 21% in California
Median prices climbs 8 percent in May

Here's the scoop
New home sales were down in May from April, but well above the rate of sales during the same month a year ago, according to the latest Census Bureau data. The median price of new homes was also down from April, but up from May of last year. Meanwhile, the rate of...

'Wow' factor wins repeat real estate business
Client retention tips leave a lasting impression

Florida home sales fall 24%
Median price, inventory levels continue climb

New-home sales drop 5.9% in May
Prices for new homes eke out gains

Illinois real estate sales lose strength
Condo market keeps up with last year's pace

Overnight real estate rates head higher
30-year fixed rate at 6.38%; 10-year Treasury yield at 5.24%

Read these stories and more at Inman News.

Nine out of ten headlines deal with the state of the real estate market. Fraud in the real estate business isn't going away anytime soon. Devious people will continue to take advantage of the uninformed and under represented. This may be especially true with a downturn in the market. The easy money in this business is gone. The dishonest will find ways to keep generating cash flow. Additionally, consumers are looking for ways to save money on their home sale or purchase and often make poor choices on one of the largest, most complex personal financial transactions. Cutting out experienced, respected real estate agents or real estate attorneys is penny wise and pound foolish.

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