Yes according to USA Today "home prices are widely expected to fall Now that a tax credit for home buyer has expired. That's raising concern about a possible double dip in home prices" Then toward the end of the report which is the lead story in The Money Section they say the following, "There may be some good news for sellers in areas not hit so hard by foreclosures. When distressed sales are excluded, home price index show a 4.9% rise in US prices from this February through next February."
Thank you USA today for starting with the bad news. Have you ever thought about leading off with the Good News. Here's why I think they are wrong and tell me what you think:
1. Let's remember that the Housing Market is like the Weather it's different everywhere in the world
2. In our Market we've gone from a 11 month supply of housing to less then 5 month supply.
3. We are beginning to see some New Construction Starts---That's a Huge Positive
4. Even with a new influx of foreclosures around the country we know these houses get gabbled up quickly. In some market across the Country Realtors are begging for the banks to these houses on the Market so they have something to sell.
5. According to NAR distressed houses-including foreclosures and short sales made up 36% of the Market.
6. With that all said the Market will continue to improve after May because:
a. Interest Rates will remain very low
b. Inventory will stay steady causing housing prices to remain flat or slightly up
What is your Prediction for the balance of 2010? I think the market will be up from 2009!! So lets tell the Good News!!
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