So let's say you're this seller and you're trying to sell a rowhouse in DC:
- You read that home sales increased in June.
- The S&P Index is up 11% YTD.
- But, as of June 2009, the YoY US inflation rate is -1.4%.
- And, foreclosures account for a significant proportion of all home sales, nationwide.
- Your house, well situated a block from I-295, has been on the market for more than 90 days.
- In fact, its construction hasn't even been completed.
What do you do? Raise its price by 4.76%, of course. That'll draw in the buyers!