(English) Is the Housing Market Actually Recovering?
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Great article, we couldn’t agree more!
I work in the Arizona market and have noticed every home that comes on the market has an average of 6 offers on it. The past 2 months I’ve also noticed a lot more new home sales so I started to visit a few of the new home subdivisions only to find out at the well priced new home subdivisions the sales quadrupled ouer the last 2 months. In one subdivision sales went fron 5, 5, 20, 21 per month respectively. I had several customers after not getting the bid on several resale homes, finally bought a new home. Where is this shadow inventory? When is it coming?
P.S. my customers just love the idea of the new home warranty and the energy efficient new homes.
We actually just did a webinar all about shadow inventory. Just go to http://events.keepingcurrentmatters.com/webinars/shadowinventory/replay/ to see the recording. Also, be sure to check out this article http://www.housingwire.com/article/home-repossessions-set-jump-2012. Hope this helps!
Interesting take of a “recovery”. Since this site is largely targeted to real estate professionals I guess transactions will lead to a recovery for their income. However, for homeowners, prices going down hardly qualifies as a recovery.
But this is the way it always works…Right now homes are “on sale” and buyers – if they are smart – will pile on board. Only when demand overcomes supply will prices rise. That will happen eventually – but it will take some time.
Well in that case we are always in either a recovery or a booming market. Never a downturn. Interesting marketing that is consistent with the best interests of the transactional folks in the real estate and mortgage markets but not necessarily the buyer.