Sales remained steady through November, with overall activity
off 46% from the year prior. Meanwhile, the median sales price increased slightly
to $285,000. Months supply of inventory in the $500K-$1 million range is still two
years, with nearly five years supply in the $1-2 million range and an infinite
supply of homes over $2 million due to yet another month of zero sales. Full
report.
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Derrick
smarten your not too bright sometimes are you.. when I buy a stock like most people do, I set a sell limit, therefore limiting my downside risk and being able to sell before any substantial drop in the stocks price..
Given the fact that pmi was extremely overbought in the first 3 days, It was in my best interests to set a limit to the downside..
Yes pmi was down 12% today. did I give back 12% in gains? No I didn’t instead I had an automatic trigger to sell before the fed’s announcement on interest rates.. once again you are sadly mistaken smarten..
smarten
Well Mr. Buddy –
The overwhelming majority of long term stock investors; or for that matter your “professional” mutual fund managers; simply don’t do what you do. Rather, they hold onto their positions for at least a week or a month or a decade and watch exactly what has happened to your PMI. Guessing in the short run [and that’s exactly what you’ve done] is about as prudent as attempting to call the bottom of the Reno-Sparks SFR market.
The only people who do what you assert you’ve done are DAY TRADERS! And that’s you Buddy. As I said before, live by the sword die by the sword.
Don’t know what your limit order was but now we know you DIDN’T make a 38% return [exactly what did you make?]. The rest of us are content with with our investment real estate income tax depreciation deductions which shelter our 12% deed of trust interest income returns which will continue for years to come while you chase the market.
BTW, glad your $39K/year 9-5 job [“between my wife and I we make about $75K/year in earned income”] gives you enough time to “play” the market; and, now we know your gain was ordinary short term income added to your earnings for inceom tax purposes.
MikeZ
Oh for Pete’s sake, ignore our faux day trader, nouveau riche millionaire, crackerjack home repairman and contracting specialist.
He’s already been outed as an Administrative assistant.
A quick trip to zabasearch will tell you everything you need to know.