The Real Deal Miami

Analyzing August existing home sales figures

September 25, 2009 06:25PM

With the unexpected drop in existing home sales in August, a panel including Wall Street Journal reporter Brett Arends and MarketWatch reporter Steve Gelsi debated whether this data is “a minor blip” or an indicator of “trouble ahead.” While Arends argued that seasonality is, in part, to blame for the figures, Gelsi said that sellers need to start cutting prices to make a deal.