All GLG News Analyses Filed Under: Residential Market Trends

Las Vegas started a new era in 2006.Traditional residential statistics presented in this article and in many others like it have overlooked a major change in the market.  That change will impact the Las Vegas residential market for the next two decades.

National housing statistics do not apply to local real estate markets universally.Contracts and sales activity in Manhattan were up January 2007 over January 2006.

I continue to think that we are a minimum 18 months away from a resolution or recovery in our housing market.  And I don’t think we have reached a bottom.  We haven’t seen a glimmer of stabilization in our major home builders.  I think this will be confirmed when these companies show...

I believe we will see a further significant downturn in housing prices which will follow an abundant oversupply of homes on the market produced by defaults over the next year.- Real estate broker volume may increase but home building and land development will be off.- The purchase side of mortgage banking...

I believe we will now have a business downturn as result of reduced demand in the housing and auto industries and the debt service requirement on the federal budget.  I think China and other offshore sources have been funding our consumer spending with low interest rates when they advance funds...

The "plunge" in resale home sales should not come as a surprise to anyone.  Resales are simply overpriced.

The article suggests new home building has "hit bottom" in metro Phoenix.  Regardless of what is meant by "hit bottom", the new home market is at least a few months from hitting bottom.

Recent survey data suggests the market may have turned a corner.  Speculative supply appears to be retreating and pricing should soon stabilize.

Whilst some housing markets are international, most are mediated by a number of local and regional factors.

I like three of the points made here best.  Housing prices have been increasing faster than incomes, the sub-prime market has never been tested in a down housing market and if the market becomes an auction market, prices can fall sharply.  I think these are the keys to further price and...