Here are a few recent articles touching on Asheville real estate and our current trends:

“Home Sales Plummet Again” - This was the headline last Wednesday, July 23rd, Asheville Citizen Times. This article compares June 2007 and June 2008 numbers.

“Downturn in real estate market will bring great deals on houses” - Mike Summey’s column from July 25th, Asheville Citizen Times. Mike, a successful real estate investor and author, states the obvious: as prices fall, its a good time to buy.

“Economists: Asheville’s economy keeps on chugging despite national downturn” from Jason Sandford at the Mountain Xpress.

By coincidence, I spoke with Jason after the meeting, described in the above article link, which I did not attend. He mentioned several interesting things about the economist’s report, one of which is a statistical correlation between FL real estate and Asheville. During the meeting, one of the economists showed a graph of FL real estate prices - slumping sharply - followed by a graph of Asheville real estate, which showed a recent downward trend in prices. His brief hypothesis: because Asheville has a long tradition of benefiting from Florida capital (vacationers, second homes, new residents, summer camps, etc) our trend may be a slower moving (and hopefully less severe) copy of the FL trend. The graphs that illustrated his point drew audible gasps from the audience. Food for thought.

-Clark Mackey, Sparkdog

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