Deflation in the local Real Estate market
The word "deflation" defines what is currently taking place with the housing market in our country. Supply and demand certainly effect the price of homes just as it does stocks and other saleable goods. With high supply and low demand prices have fallen sharply within the housing market. Now with the low prices record low mortgage intereest rates enter the picture. How long will it be before demand rises sharply because of the low interest rates? This would reverse the trend of falling homes prices and prices would begin to rise. If you are waiting for this market to hit bottom then look at what is taking place today. Typically, we never know when a market has hit bottom until it has been rising for several months.
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6574 Jules Place, Springfield, Oregon
Description: Light & bright immaculately maintained home. Huge great room with vaults, skylight & fireplace. Spacious kitchen with plenty of cabinets & breakfast bar. Master has large walk-in closet an .... |
