Think back one year. Did anyone believe prices would rise 11% over the next 12 months? This exercise is to show how incredibly difficult it is to make an accurate prediction, especially when the well-educated bank economists were barely on the radar screen.
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Single family homes sales were up 63% compared to last year. Condo sales were up a mind-boggling 77%. Inventory continues to shrink. A sales/new listings ratio of 80% bodes well for sellers. Nov 2009 stats summary: The median price of single family homes(SFH)
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