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Average time of sale is usually the first warning, sometimes a false warning, of an impending top. In 2005 in Los Angeles prices slowed their rate of increase in the early fall and average time of sale increased from the late fall into 2006. Prices peaked, IIRCC, in July of 2006 but it took until 2007 to confirm that prices had actually begun to decline.

"It is not necessary to have hope in order to persevere."
by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Sat Feb 12th, 2011 at 05:35:27 PM EST

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