I did it before. In May I said that looked like the high point for Average SFH prices was reached or I would quit blogging. Luckily it was..for now.
In June prices dipped a bit. In July they dipped a lot and in August they had a small rebound. So far May has been the high water mark.
I think May's lunatic prices will hold. Here's where my neck comes out a full foot or so.
I think September will show a significant drop again in the SFH average price. Di I have any special inside info. Not at all - only the stuff I post for you.
However once again , if Economics makes any sense, with lower sales and higher inventory- we should get drops. This time we have a back-drop of financial crisis and mayhem too, and the Government says it wont stimulate housing again the irresponsible way they did the last time.
Yes interest rates are super low. Yes the HAM buyers are still throwing money at stuff like it was free (maybe it was), but speculation is becoming passe- and we are the epitome of Speculation.