Do you think housing market will get better or worse from this point forward?

Question

Do you think housing market will get better or worse from this point forward?

Answer 1

I think generally speaking the housing market will either plateau or go down slightly until at least November, when the presidental election takes place.  Then I think you'll see an upturn in not only the housing market but also the economy in general.

However, there are parts of the country where the housing market has consistently been strong.  In Pittsburgh, where I live, for example, the housing market has had a very steady rise.  Houses were being bought and sold - for the most part - for what they were worth.  So there was really no housing bubble to burst as in other parts of the country.

If you are thinking of buying or selling in your city, I'd talk to a real estate agent that has been in business for a long time.  They will have the most insight into the real estate market in your specific part of the country.

Answer 2

It will get worse for awhile, the market must correct itself, and the bad players must be culled. Conversely, anyone with the money and credit rating, stands to reap a windfall, it is a buyers market now, and when the correction is finished they will make profits left and right. Do not wait for our government to help.., all of the bailouts are crafted by the banks, are for the banks, and no one but the banks.

Answer 3

I think the housing market will continue to decline through at least the end of the year.  Until the fundamental problems change, the housing market cannot.  

Right now there is a huge inventory of homes, and not enough qualified buyers for those homes.  Foreclosure rates have not come down, which is an indicator that the inventory of homes will continue to rise.  Banks have been selling off foreclosed homes at very low rates, which also lowers the overall values of homes.

We will have to wait for foreclosures to slow down and inventories to get bought up before homes stop declining.  I think the decline will stop sometime in the next 12 months, and housing prices will remain flat for some time before they go back up again.  

If you are a buyer, go for it!  It is a great time to get into a home.  

Answer 4

Contrary to what many people are saying  .... the market is BEGINNING to start up ....

All you have to do is look around you at the homes that are beginning to sell in your area ......

Like here ; three homes have sold in this area ... two on my street and one directly behind me ..... Mine is for sale here in DeBary, Florida and I've had a few inquiries ; so I doubt if it will be long ......

The key to homes selling is LOCATION , then PRICE .....