Historic 2007 Buyer Opportunities - May Not Last into 2008, 2009
By GOLD Team Bristow
(RE/MAX Olympic)
Median US Home Prices Expected to Fall in 2007 - And Maybe 2008, 2009Copyright(c) The GOLD TeamA historic opportunity to buy homes at lower than expected prices is forecast to exist during the remainder or 2007.The "New York Times" reports that, for the first time since federal housing agencies began keeping statistics (in 1950),the median price of US homes is expected to fall in 2007.Economists forecast that the 1 to 2 percent dip forecast could (but may not) continue into 2008 and 2009. Besides the areas in the Northeastand California that recently boomed the declines will include areas which only experienced moderate increases in the last 10 years, such as Chicago, Minneapolis and Houston.The forecast is unusual because many housing-industry and government officials had said that a ...
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