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May 9, 2008 1:00 PM

A time of uncertainty

Posted by Bill Kossen

A constant topic at this week's meeting in Dallas of the National Association of Real Estate Editors has been the volatility of the housing market. Even the experts are in a quandary about what will happen next.

"I've never seen such uncertainly in the housing market and it has the housing industry in gridlock," said Todd Mansfield, chairman of the Urban Land Institute. "The credit squeeze is lifting, but it will be the rest of the year before it's really better," he said.

Mansfield doesn't expect the housing market to be back in balance before the end of the year.

However that's talking nationally. Some markets are still doing well, including Dallas and Charlotte, N.C., where housing sales are fine.

In fact only a handful of states are driving the news about foreclosures and falling home values -- and Washington isn't one of them. They are California, Arizona, Nevada, Florida, Ohio and Michigan.

Speaking of California, here's an interesting statistic. After being a people-magnet for so many years, California is now second only to New York state in the number of residents moving elsewhere.

Washington is in the top 10 gainers, but eighth down the list behind Florida and much of the Mountain West, including Idaho, Nevada and Arizona.
---Elizabeth Rhodes from Dallas

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