Market Improving?

By
Real Estate Agent with RE/MAX 1st Realty

Here is an interesting article I found today:

Daily Real Estate News  |  November 6, 2009  |   Share Declining Inventory Sign of Stabilizing Market
An important reason that the housing market is stabilizing is the reduction in inventory. Current sales and inventories suggest that supply will decline below the pre-2006 levels by the end of 2009.

But analysts say that the stabilization of the market doesn’t mean that prices will rise anytime soon. They point to what they call “shadow inventory,” foreclosed homes that banks are holding off the markets. They predict that these homes will hit the market in spring 2010.

But overall, they are optimistic that the housing recovery is built on an improving economy and say that the market will continue to stabilize.

Source: BusinessWeek.com, James C. Cooper (11/09/2009)

 

I do believe that the market is improving. I expect steady sales through the winter especially with the new extension of the tax credit. Do NOT expect the credit to be extended again when it expires on April 30, 2010 though- there will most likely be no more extensions.

Comments (1)

Christine Hooks
Pino Agency - Pennsville, NJ
Celebrating 25 Years in Real Estate!

You have inspired me to check the inventory in our area today.  Thanks for making me curious!

Nov 07, 2009 02:00 AM