Sales of previously owned U.S. homes rose in the month of July due to lower prices.....but because of higher inventory the housing market is unlikely to recover anytime soon according to a trade group report in today's yahoo news.
So when is the housing market going to pick up and when will we see a market correction take place?
That's the question I'm asked on a regular basis so I like to keep up on my current events when I see an interesting article featured on Yahoo news
You can read the rest of the story >>>HERE.
For more information please contact Neal The Real Deal Bloom
-Realtor® /RE/MAX Premier Associates
2500 Weston Road ,Suite 103
Weston FL 33331
(954)608-5556
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Neal...
As the price of oil drops, I think there were be a temporary small market rebound. I hope so, there are plenty of properties out there that I would like to match to buyers!
Neal the market will turn around when it is ready to and the government leaves it alone. Every time that the government messes with it the only thing that is accomplished is that things get worst. If they let the market take its natural course and we will get out of this a lot quicker.
The market is headed to its turn. After each presidential election rates rise - that will motivate those on the sidelines waiting for a reason to buy.
Neal,
some states started earlier to go down and others later, every state will recover in a different time frame for the same reason, hopefully we will be out soon from this sandstorm.
Ray Saenz
I had 3 walk-ins yesterday alone in my office.
I Sunny Isles beach, Aventura & Balk Harbor; inventory is still high- I don't see anyone giving away real estate. Yes, there are some great values, but certainly not 50% off of 2006 prices. The higher quality properties are hard to find and do sell quickly at premium prices.
Hi Guys...I had initially posted a comment back to each of you but of course AR caused my comments to disappear and had to write them all over again. I'll just say that between out 5 yr supply of condo/townhomes and 3 year supply of single family homes....there is a slight change in both inventory and sales over the last 90 days. I still think this news is temporary and will revert back to the continue slide of prices. Maybe more homes are just coming off the market.