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Exact(23)
And when lots more people compete for the same homes, prices soar.
With many sources of mortgage finance evaporating and many unsold homes, prices have much further to fall.
KB Home reported a wider-than-expected quarterly loss as margins and homes prices fell and write-downs of land values rose.
For the least expensive homes, "prices just shot up too fast on the way up and then went down more sharply," he said.
For single-family homes, prices range from $200,000 at the low end to $300,000 for a 1,700- to-2,200-square-foot dwelling.
The ballooning price tag, a 3percentt increase from a year earlier, comes at a time when day-care costs can exceed university tuitions and homes prices have skyrocketed to record highs.
Similar(37)
"We have 45 homes priced over $1 million.
Home prices are wobbly.
Home prices are down.
Home prices have stopped falling.
Home prices continue to increase.
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