Nationwide economists expect housing prices to stabilize.
Beacon Economics analyzed home affordability and came away feeling optimistic.
Beacon Economics founding principal Christopher Thornberg, whose firm advises a variety of business clients, says the high level of affordability is likely to drive demand and reduce the stock of excess inventory, ultimately resulting in the need for new housing, a rise in prices, and a pickup in new construction.
"While prices may fluctuate modestly over the next several months, we believe the worst of the housing crisis is behind us," says Beacon Economics Research Manager Jordan G. Levine. "We expect prices to stabilize around current levels and likely be higher in the next 12 months."
It's a buyers market here on Maui...take advantage of it while you can.
Contact me for property information on rentals (long term & short term - i.e. vacation rentals (not timeshare)).
Aloha,
Jeff
Jeff Graves, Realtor®(S)
(808.633.1292 (Cell)
JeffGraves@ClearWire.net
Coldwell Banker Island Properties
34 Wailea Gateway Place, A-207
Wailea, Maui, Hawaii 96753
Source: Beacon Economics (10/11/2010)
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