PA Home Sales Down 18 Percent

September 8th, 2008, posted by Greg Palmer

On August 14th the National Association of Realtors(NAR) released data on total sales of single-family homes, apartment condos and co-ops by state, we missed it because we were busy writing the State of Working Pennsylvania.

According to the data Pennsylvania home sales in the second quarter were down 18 percent from the second quarter of 2007; sales were down overall in the Northeast as well as in all of Pennsylvania’s neighboring states (Figure 1).

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Pennsylvania

One reason property values

On September 9th, 2008 Anonymous said:

One reason property values are dropping is excessive school taxes.
Buying a home is now just a way to be forced to keep paying outrageous public ed. costs no matter what happens to your job.
So, the market responds to that reality by shrinking. Will property taxes drop to reflect that reality?

I can’t quite follow your

On September 9th, 2008 Anonymous said:

I can’t quite follow your logic. Its like saying I was hit by the bus because they put the store I want to get to on the other side of the street, instead of because I stepped out in front of it.

Home values decrease while we bailout

On September 9th, 2008 Anonymous said:

lousy CEOs and Banks. Nothing is selling here in eastern PA. There are still newly built homes for sale – thanks for the building glut Toll Bros and others!!!

If you lose your job – you’re stuck and will probably get foreclosed on. The mortgage company won’t negotiate – because their CEOs still have millions and billions.

This republican economy is working so well (extreme sarcasm).