Housing Market Predictions 2011: Home Prices May Still Be Too High “by Ilyce R. Glink
What’s the forecast for the housing market for the rest of 2011? My prediction is that the market will continue to suffer for the balance of this year and well into next year. Why aren’t home buyers buying? Maybe they’ve heard the recent spate of bad housing news:”
By RUTH SIMON and JESSICA SILVER-GREENBERG
Back in June 2006, when the housing market peaked, the prospect of a five-year national housing bust seemed unimaginable to most people. And yet here we are, with the latest Standard & Poor’s Case-Shiller index showing that prices hit new bear-market lows, falling back to 2002 levels nationally and to 1990s levels in some battered regions.
via KATY – HOUSTON AREA REAL ESTATE: Why It’s Time to Buy: http://t.co/H7icZyR
Besides the real estate outlook, check out this week’s updates about tornado relief, top towns for single moms and creative ways to curb spending – and the Q&A section.
Real Estate Market Conditions – Video Update 05/30/11
– Real Estate Outlook – Existing Home Sales Fall
– Mortgage Moment
– City Report: Tornado Relief
– Top Towns for Single Moms
– Creative Ways to Curb Spending
– Are you Ready to Buy?
– Kitchen Trends for 2011
– Home Inspections 101
– Popular Landscaping Trends
– Modern vs. Contemporary
Get Your Home Sold!
Affordability Reaches Highest Level in 20 Years
Homes are more affordable to more families, according to the latest index for the first quarter of 2011 that shows affordability reaching its highest level in more than 20 years.
Nearly 75 percent of all new and existing homes sold in the first quarter of 2011 were affordable to families earning the national median income of $64,400, according to the National Association of Home Builders/Wells Fargo Housing Opportunity Index. The previous high was set in the fourth quarter of 2010 with 73.9 percent.
“With interest rates remaining at historically low levels, today’s report indicates that home ownership is within reach of more households than it has been for more than two decades,” says Bob Nielsen, chairman of the National Association of Home Builders.
Here is this week’s market conditions update:
Real Estate Market Conditions Video Update
– Real Estate Outlook: New Legislation
– Mortgage Moment
– City Report: Move-In Ready
– Tornado Insurance
– Green Living: Summer Energy Savings
– A Message from Career Builder
– Why Buy this House?