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Market Conditions - - Quote: "A most informative site."
June 29, 2008. With one day to the end of the month sales fell 30% over June of 2007's sale figures and are down 17% over Mays sale figures. Typically May marks the annual high sales period (Chart 6) and this year is no different. A noticeable trend however is the fact that sales are retreating without having broken through the 12 month moving average. This a significant factor and a condition that has not been sent for at least the last 10 years. A list sell ratio greater than 1:6 indicates a buyers market.
The writer is "a bush economist" with no formal education in economics except 26 years of full time experience
in the real estate industry. Treat these charts with a liberal dose of scientism and under no certainly drawn your own conclusions.
Well know words of wisdom: "A bird in the hand is worth 2 in the bush."
RE translation: "The next offer that you get will likely be less than the one you have now!"
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