What do have to compare with? From the REBGV stats:
In March 2012, there were 2874 sales, 30% less than March 2011, and 8% less than March 2010.
March 2012 had the second LOWEST sales of any month since 2002. It was 17% below the 10 year average.
Listings were up 15% from March 2011.
What does this all mean? It mean March 2012 was a very weak month and the bar is set very low.
If we go under March 2012's sales we really are in a correction.
Fun with quant: MS Business Conditions edition - Marketwatch recently reported that Morgan Stanley's Business Conditions Index had deteriorated to levels last seen during the 2007-08 financial crisis. Wow...
9 hours ago