IF THE RECESSION IS OVER, WILL THE HOUSING MARKET FOLLOW?

By
Real Estate Agent with Port Washington Properties

For the last two years, all we have heard was how bad things are! Obviously, if buyers hear that all the time, they will react accordingly. So if we now believe what we are hearing, that the economy is improving, and that recession should soon be over, then how will that be communicated to buyers, to create that buying urge once again?

When will fear be over, and a balanced market once again be restored? I have NEVER seen anyone that can absolutely"time" the bottom of a market, but all indications is that we are certainly getting close to that point. Since the first time buyers credit is set to retire at the end of November, and mortgage interest rates are still very low, we may be at a historic buying opportunity.

Comments (2)

John Mulkey
TheHousingGuru.com - Waleska, GA
Housing Guru

Richard - For those who can afford to purchase and are eligible for the tax credit, it is an opportune moment to purchase a home.  However, I don't think we'll see a surge of buyers just because the pundits have proclaimed the end of the recession.  A significant buying trend cannot begin until we are creating, not losing jobs.  Housing has always been interconnected with job creations; and when the numbers indicate a definite upwards trend, housing will improve.

Sep 17, 2009 03:47 AM
Ellen Crawford
Maximum One Executive REALTORS® - Alpharetta, GA
Alpharetta Real Estate Agents & Alpharetta REALTOR

It's a great time to buy right now.  Great rates, great deals and a 8K credit for the first time buyer.

Sep 17, 2009 03:20 PM