Housing Market on Verge of Stabilizing?

[Stephen J. Vertin MAI]

http://news.aol.com/business/story/_a/housing-market-on-verge-of-stabilizing/20071210165309990001

 

[Dee Dee]

Is there anyone left in the room who still believes that Realtor's forecasts are credible and unbiased? Yes? And what are your feelings about Santa Claus?

 

[hastalavista]

I read the article twice.
All I read was that the NAR predicted that sale-levels (not price levels) may be stabilizing.

This could be true. As price declines accelerate, I would expect to see the volume of purchases stabilize at some point and perhaps increase. Increased purchase activity does not mean price-stability if the available inventory increases.
So, it is possible to have this picture:
Falling prices.
Increasing inventories.
A stabilization of purchase/sales volume.

Did I misread the article?

 

[Stephen J. Vertin MAI]

Hey are you making fun of my post

For a couple weeks I thought it looked like we were heading into recession. But I am impressed with the new guy. I bet you real estate will stabilize a lot faster then most thought. It might be a good time to buy.

Buy low sell high always makes you the rich guy.

 

[Karl]

Buy low sell high always makes you the rich guy.

True but here in AZ there is still plenty of room to buy lower.

 

[The Matrix]

Systemtic cycles take awhile to resolve themselves. It is unlikely the real estate cycle that went up for approximately ten years and has now been going down by my calculations since 6/05.....will resolve itself in the next few weeks. We are about half way through the real estate downturn.

 

[Lawrence R.]

Recession AS a stimulus?

I have often thought that with the availablility of capital in this country, that there are plenty of people with funds at thier disposal who will be able to inject new money into the real estate market. The dip in housing prices may serve to flush that money out. If that happens, the dip in prices will likely stimulate home sales. Investors of this nature will not present the huge foreclosure risk that Jim and Sally who wanted to "give flipping a try" posed in the boom of the past few years. These buyers will provide stability to weakining portfolios.

And, of course, savvy home buyers will be able to possible snap up a deal and move to a better area of town or buy a somewhat bigger house.

But, so sum it up, I think there is just too much money left in the market for a deep recession, if there is room for a recession at all.

 

[Ross (CO)]

Ask any realtor....anywhere....if NOW is a good time to buy.

The answer will ALWAYS be.......Yes !

Why ?.....because TODAY is.....neutral.

 

[Terrel L. Shields]

But I am impressed with the new guy

New guy? Yun?? I'm impressed too. I thought no one could be more Pollyannish and WRONG than Lereah, but I was wrong...Yun is Mr. Sunshine and according to him the 4th quarter will be a large upswing in market activity..."ho ho ho like boy, have i got a surprise for you." Yep, I'm impressed and my impression is that he is an idiot.

 

[moh malekpour]

I don’t know why should anyone listen to what NAR says about the market price or sale levels of homes? They have been saying the same thing for last 2 years and keep saying it over and over. Every 3 months, one of them tells a newspaper reporter that the market is stabilizing but it never materializes because there is no reason for the market to stabilize neither in price nor in the sale levels.

Does anyone have any good reason that could help the market to be stabilized either in price of sale levels? Have you seen the light in the tunnel?