All my clients ask the same question. Where is the market going? What is going to happen to home values? My answer always begins the same. It depends....
It depends on whether you are asking about a specific local market or nationwide. Here, in the Bay Area, we have small markets in affluent areas that barely experienced a price drop ofver the last several years. Just over an hour away from there we have the cities that were the hardest hit in the entire US by the mortgage crisis.
I found this article to be useful becuase it illustrates that home prices aren't the only thing to look at. When you take in to account the cost of the mortgage itself as part of the homes price the answers to those questions change.
Interest Rates and Home Values
Always available to address your Real Estate Needs at www.RemyFortier.com
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