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I've been pretty dismissive of much that comes from NAR's chief economist's office. While Lawrence Yun is certainly been much more realistic than his predecessor, he's still too often been a cheerleader rather than an unbiased source for information. It's understandable given who signs his paychecks!
But his latest analysis of what's going on nationwide with home prices is very educational and, I think, gets it mostly right.
Locally, prices continue to decline. But given the sudden increase of activity in the last couple of weeks, I suspect there's some chance we may be getting close to a floor in some areas. (Probably not Culpeper!)
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