Real Estate Experts!! When do you expect this current market to rebound?

Question

Its obvious this market is in a downward tail-spin. I live 90 miles outside of Chicago and I have had my house listed since April. I've had many showings but no offers. I noticed alot of the houses in my neighborhood (9-10 in the last 2 months) are going on the market but none are selling. When do you expect this market to bottom out and the current inventory to start selling?

Answer 1

There's a great video on it right here

http://real-estate-investing.guidearticl...

Answer 2

  a house dont sell when the price is to high.thats the way it is.yesterday it was worth this much.today its worth that much.not hard to figure that out.

Answer 3

Opinions vary greatly on this topic.  I personally believe that the housing market will be in bad shape for at least 18 more months if not longer.  We are due for another round of foreclosures relating to mortgages that adjusted in May and June.  This will of course put more houses on the market and will create additional downward pressure on pricing.  Real estate is regional though, so you may see a correction in your area earlier than places like California, Florida, and Nevada.