Supply and demand will balance out soon and I believe home prices will decline a small amount in the next two years before the next election. In order for a seller to find a qualified buyer two things must happen. A seller must be willing to a sell at both an affordable price and the home must appraise at the selling price. Second item the market must be big enough to attract dozens of qualified buyers with strong incomes and having good, well paying jobs.
Article by: Diana Olick CNBC
The sharp rise in home prices in 2013 caused two conflicting
results: The return of positive home equity for hundreds of thousands of
borrowers and considerably weaker affordability for an equally Read More... large
pool of potential homebuyers.
While positive equity allows more
borrowers to move, weaker affordability keeps them in place. So which
will be the greater driver of housing this spring?
Read more...
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