What's In Store For the 2011 Housing Market?
Good Monday Morning!
Happy New Year! It's hard to believe that 2011 is less than a week away.
What is in store for the national housing market for 2011? Is it just more of the same or will we see a rebound? Well, the experts at the National Association of Realtors think it's a combination of both.
According to the NAR experts look for a dismal December 2010 followed by 3 quarters of continued home value declines across the nation in all housing markets. Some markets will certainly be hIt much harder than others. The decline in sales and home values should be less severe than what most of us witnessed in 2010. NAR also predicts that by the 4th quarter of 2011 the pent up demand for housing will begin turning the market around and that sales will begin to increase and stabilize pricing. This prediction comes from the fact that the nations population has grown by almost 10 million since the beginning of the housing market slowdown and this has created a significant pent up demand for housing in many markets.
Locally, our Eugene and Springfield area market will almost certainly follow the national trend. Whether our market sees any kind of rebound in 2011 may depend more on the local economy than on population growth. Any way you look at it, 2011 will be full of surprises as the Federal government tries to turn the housing market around with a variety of tactics. Let's just hope that whatever they do next year has better success than the past.
Have An Awesome Week!
THIS WEEKS HOT HOME LISTING!
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202 Foxtail
Very classy condo in wonderful natural setting with a great 2-level floor plan. Offering a spacious living rm, open dining area, well-designed kitchen & cozy family rm with access to a deck. The upstairs master features a lovely vanity, private bath...
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AND HERE'S YOUR MONDAY MORNING COFFEE!!
Sincerely,
Galand
