Back in March, I commented about how the housing market was now like a "bear market" but was showing signs of bottoming out.
Today's news shows that the housing market was up the very next month. April, May and June were all higher than March.
If you want to buy a house, it's possible that you may not see prices this low ever again.
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2 comments:
April almost always has more sales than March, May more than April, June more than May....it's kind of a no brainer. To close in March someone would have put an offer in on a house in January or February. Not exactly "house-buying" months....
We're not at the bottom of this market yet.....
The 1988-1992 RE crash is going to be very similar to this time-wise - we have a way to go I fear.
All IMHO
Now if only the banks decided it was safe to start lending again. Our Realtor was in our building last week and she stated that first time homebuyers are having a heck of a time getting financed so that has ended a great number of her potential sales or at least delayed them. God forbid that the housing prices are down at the same time banks are lending to credit worth individuals in a timely manner.
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