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How healthy is the real estate market in your area?

Real estate signs posted at a housing complex in Walnut Creek, Calif., Saturday, Aug. 5, 2006. Home sales kept falling in July in Northern California along with the appreciation rate of prices, a real estate research firm reported Wednesday.  (AP Photo/Paul Sakuma)
Paul Sakuma
Real estate signs posted at a housing complex in Walnut Creek, Calif., Saturday, Aug. 5, 2006. Home sales kept falling in July in Northern California along with the appreciation rate of prices, a real estate research firm reported Wednesday. (AP Photo/Paul Sakuma)

"The housing market is rebounding in northeast Phoenix, Scottsdale. Price range of $1 mil to $1.75 mil - very active. Paradise Valley, $2 mill and up is very strong '06 into '07 above $5 mil is 50% ahead of '05 sales. Lots in Scottsdale picking up. The very high end, $1 mil and up is much stronger." -- Brad N.,Arizona

"Very slow! Very bad if you are a seller. Excellent if you are a buyer." -- B.A. Michigan

"Houses come onto the market and sit for months. Although the supply of houses is similar to previous years, the sales take much longer." -- Dan B., Dublin, OH

"In South Florida the home flipping has come to a halt and prices are adjusting down. High property taxes due to inflated home values are killing sales while the government is wildly spending the windfall profits instead of reducing the tax rates." -- Bob P., South Florida

"This market has taken a hard hit but will recover later this year. New homes sales will stay slow until next year while old homes sales will increase the next several months. Lenders are finally realizing the crunch consumers are in and will pullback on the number of new home loans they make. Different areas within different regions will always be hot, while most of the country will stay in a slump through next year." -- Michael A., Tampa Florida

"I'm just starting to see movement in the market. It seemed the winter months were very slow until the last few weeks. Some of these houses were on the market 6 to 12 months. I believe the prices adjusted enough to get a lot of them moving." -- Maryann N., New Jersey

"New York City isn't really experiencing much of a slowdown - prices keep going higher and higher, especially for luxury properties. Now there are more than a few apartments for sale for over 20 million." -- Paula S., New York

"The builders are complaining about the levels however they are spoiled. I think there must be around 25 new houses just in my town and they are all sold. It has slowed however it really needed to. Pricing was out of control. It is a little more normal now. Everyone in real estate will complain because they are used to everyone just snapping up housing as well." -- Robert S.,Rowayton CT

"Small, upper town, in Northeast Bergen County close to New York and homes are selling but slower. High taxes more of a concern than housing prices." -- Irene H., New Jersey

"Southern New Hampshire is slowing down, especially in the high-end market. Several high-end developments in the Windham/Salem area have empty homes. Mid range holding it’s own." -- Nelson M, New Hampshire

"One of the people at work owns a tiny ranch worth between 450-480 thousand with 7500 in taxes. New York is one place where we haven’t seen the downturn in prices due to the fact that there is traditionally plenty of work here. You have to make 125-150 thousand dollars a year to really afford that little ranch above. It’s ridiculous. I hope Bernanke raises interest rates to 8% to tank this market that has been born out of speculation. Average people can’t afford this. The cost of living hasn’t gone up to support the fact that houses have climb in many cases over 100% from 10 years ago. For guys who make 60-70 grand your American Dream is you get to rent your own place. Now ain’t that America!!!" -- Thomas H., Long Island, NY




more responses....

Kansas did not go way up the past few years, so it is not falling way down the past year.” -- George C., Kansas

In southwest Washington, building is still going on like crazy." -- Paul B., Washington

The market in Hollywood Hills area is active. We went up 100% since 2001, and it now appears we've given 20% back.” -- Rick A., California

“Terminal and on life-support.” -- Deanie G., Florida

The real estate market in the northern Ohio area in both new and existing home sales is slow and way down. There are many houses on the market for over 9 months and not improving. Plus the values continue to decline.” James H., Ohio

Real estate prices continue to rise but not as fast as last year in Seattle.” -- Diane G., Washington

Homes that went for well north of a million two years ago are sitting on the market with huge price reductions and still not getting any bids…. In short, the market is dead – and this is typically a very good time for sellers in this part of the country.” -- Karl D., Florida

"Inventories are up slightly, prices down about 1.5% year on year." -- Dave H., Indianapolis

"The market in the Tampa Florida area is like a ghost town in the last 3 months. I'd say we are in the middle of a crash, with no end in sight.” -- Franklin Y., Florida

"The market is slow with long sell times unless discounted, but not a panic." -- George E. Connecticut

“We rode the market to heck and back in Houston from the mid 1980s to now. With the oil business doing great again, our home prices (near downtown Houston) are soaring. Up about 30% in the last 18 months! Thank you big oil” -- Lind H. Texas

“It is definitely slow. The for sales signs go up with one realtor change a few times and continue on the market…There are many properties that are exceeding a year on the market.” -- Mark B., Ohio

Anything $600,000 plus is not moving at all….five times the number of million dollar plus homes on the market versus four years ago. Condos are popping up everywhere, and many are selling, but that’s only taking more buyers out of the traditional residential market.” -- Jay V. Arkansas

Northeast Florida is in a different universe from South Florida. Homebuilders are still going full blast here. The resale market has slowed just a bit but five-year old homes are selling quickly at twice the price they were five years ago.” -- Ken S., Florida

“The Vicksburg housing market is weak. Homes are overpriced and units haven't been sold. Most new subdivisions hardly have any residents. High realty costs are above the median income.” -- Chuck H., Mississippi

"In the San Fernando valley in California, where our housing prices doubled recently, we've experienced approximately a 10% pullback and it looks like there is more downward pressure". Matt H., California

"There are over 50,000 homes for sale in Phoenix, when a normal market is around 20,000. There is definitely a disconnect between buyer and seller." -- Richard A., Arizona

"There are families living on the streets of Reno because they lost homes. You figure it out." -- Greg P., Nevada