Well the numbers are in and the housing market has come to a steeper than expected decline. Is this a sign that prices will soon follow. With a warmer than normal January in most places, the real estate industry actually moved up construction start dates in anticipation new home buyers and speculators will continue to come out.
More on Housing
However, with a high number of unsold houses on the market and rising interest rates...will prices finally start coming down??? Its appears that this may be the case in a few months. Some economists are predicting pricing may begin to decline and guess what, that means that homebuilders are beginning to offer perks to entice home buyers. Ahh is this finally revenge for the rest of us that missed the big housing boom...not completely. Again another reason housing prices may be on the decline is interest rates. The rates are now nationally around 6.26 percent which is not bad but higher than what most of our friends have been getting locked in at over the past few years.
Just the other night I ran into a building company that was offering brand new 42 inch plasma TVs to entice me to buy into their new condo development. I am seriously on the prowl now that I firmly believe that most real estate investors are beginning to get to a point where it may make more sense for them to invest there money in other areas. I am personally not a huge fan of condos and townhomes because of the assessment fees but I am also priced out of the million dollar single family home here in the city.
Link to economic housing data: http://www.census.gov/newhomesales
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