Real Estate seems to be at a bottom.
- Inventory is high
- Long Term 30 yr fixed mortgage rates are low and stable
- Buying season is starting soon [most (or is it more) sales occur in spring and summer]
- Sellers are figuring that it is better to reduce prices to market than to continue paying interest for many months [or years] waiting for a sale [at last years valuations].
- Existing homes sales are
slowly increasingstill falling. Business Week coverage.
- The slowdown may be coming to an end as government stimulus checks are going out in about 5 weeks.
- As usual the stimulus will probably be late and the economy will already be in recovery.
- This is the bottom and the deals will not be this good for some time [if ever again].
- As this becomes the sentiment of buyers [and vultures] they will rush in to get the best locations and values.
Any thoughts on housing, interest rates or the economy?