Consumer sentiment plays a role in the housing market, in my opinion. With more than half of US homeowners and renters predicting the housing market will not recover until 2014, the US housing market may take a long while to fully rebound.
Trulia and RealtyTrac found that 54% of respondents do not expect a recovery in the housing market for at least three more years. With demand being weak and difficulty in obtaining mortgages, there is not much to kick-start the housing market in the near-term.
Another overhang is the more than 1.8 million properties (according to Core-Logic) that are delinquent or in foreclosure, which will add to the inventory of unsold homes. The CEO of Trulia is quoted as saying he doesn't expect to see signs of price stability in the housing market for another 18 months (that would be around 2013).
With the uncertainty in the current market, it is more imperative than ever to work with a professional when buying or selling a home. If you are thinking of selling or buying a home, or require more information, please feel free to contact me. You can text me or call me at the number below.
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Lang Realty
561-247-3550
Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty
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