Buyers Start to Back Out of Purchases Pub. 2/28/06
By Bob Schwartz, CRS, GRI ©2006 www.brokerforyou.com All rights reserved.
Read the excerpt below as another major news organization reports the FACTS! …..
By Chris Isidore, CNNMoney.com senior writer
February 24, 2006: 2:49 PM EST
NEW YORK (CNNMoney.com) - Home builders are growing concerned about an increasing number of cancelled new home orders, which experts say could be a sign of an underlying weakness in the recent run in home prices.
Specifically, the cancelled orders could be the latest warning sign that buyers who were turning to real estate as an investment, rather than for their own housing needs, are shifting out of real estate. And that could mean that in many hot markets, the air is about to come out of over-inflated real home prices overall.
AbOUT THE AUTHOR Bob Schwartz, is a Certified Residential Specialist, and a CA licensed San Diego real estate broker with. Bob has years of residential real estate experience, authored a number of published articles and served as an expert witness for San Diego lawyers. You can contact Bob via his highly popular San Diego Agent.
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