What to expect in the market in 2010.
I saw the market pick up in the second half of 2009, and consumer confidence increase. In September we saw our luxury listings moving more quickly and with bidding situations occurring. Although prices will remain flat in many markets, we may see a slight increase in pricing in this area due to low supply of well priced homes. Buyers are most definitely value driven and are watching the market closely. Top areas, both resort and with easy access to major cities will be the first to recover, as indeed they were the last to fall. I believe we are cruising along the bottom, and although I believe there are still short sales and foreclosures in all price ranges still to occur, we have started to witness the end of the freefall and there will be more stability in housing for 2010.Sellers should be cautious not to jump for joy too high with their asking prices. Value pricing will be their best asset.
Washington, December 01, 2009 Pending home sales have risen for nine months in a row, a first for the series of the index since its inception in 2001, according to the National Association of Realtors®.
Q. Is it worth putting my house on the market now over the holidays, or should I just wait for the Spring?