Quote:
Originally Posted by Slava
Its hard to predict the next 6 months though. I understand that with rising inventory the prices should drop, but at the same time there will also be a lot more buyers into the spring and early summer. My guess is that prices decline by 5-7%, or hold relatively level.
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Yeah thats a possibility, I'm much more pessimistic however. My gf, and I almost bought last February, but I decided to hold off because after research etc, I figured we were heading into a crash. I was told by our realtor that prices would increase in the spring/summer because there would be so many buyers, but that didn't happen last year, and this was a time when many believe prices were still going to increase so they could make money on their purchase. I just don't see it happening, I figure at least another 10 - 15%.
Big factor is that there are layoffs, and the economy is going into the crapper. This means there will be fewer buyers, on top of that the 40 year mortgage with nothing down is now gone, that will also eliminate some buyers.
Will be interesting in the next several months.