Quote:
Originally Posted by phillyzcool
Good point.
All that matters is price. Volume may be a leading indicator, but in the long run the only people who care about volume are people who work in the RE industry.
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Maybe yes, maybe no...
if stock shares are down it would effect mainly stock brokers, but when real estate sales are down it effects much more then just real estate brokers. Many businesses are suffering right now, such as furniture stores, movers, all the trades involved in new construction such as electricians, capenters etc, plus the government.
If sales volume is down then Philadelphia/PA are not collecting that hefty 4% transfer tax and the wage taxes on those who build, sell, mortgage those home sales. That's a lot of money.