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Case Shiller Price Observations The recent Case Shiller report shows price declines in front of the tax credit completion...The  index gives us a slight 0.38% decline in the top ten
market composite. Year over year the index is up 3.15% when compared to
March 09. Recent strong price moves will come to a serious halt because
the tax stimulus is behind us. The silver lining in this is that it
proves demand is there, just waiting for the right price and for some of
this historic uncertainty to settle. I have a chart on site that shows
the 2009 price spike Via Redfin. Price momentum is quite impressive and
the recent downturn looks reasonable for at least San Francisco, San
Diego LA, Washington and Boston. These low rates will help to elevate home-buyer affordability and soften the effects of the sunset of the home-buyer tax credit,” said Frank Nothaft, Freddie Mac vice president and chief economist. Beware the inventory surge In our immediate future is a large wave of potential foreclosures as banks begin to off load inventory they have been holding back. Home owners also are placing their homes for sale at hefty pace. Many waiting for better times before listing are now beginning to do so. The supply surge increase the likelihood that will continue to see price declines as sales volume continues to increase. Most experts still agree that we are bouncing along the bottom, meaning we are no longer in a steep decline and that will have to do as the definition of price stabilization. REsourced from www.yourpropertypath.com You may republish this article, as long as you do not edit and you agree to preserve all links to the author and www.yourpropertypath.com
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