Property Prices Still Falling
Real estate sales are up 21.1%…What about the prices? Not so much!
According to the Associated Press, 5/25/2010 a private report showed home prices fell during March despite government support and low mortgage rates, signaling weakness in the housing sector. Prices fell even though the government said Monday that sales had risen in April, and a realtors’ trade group said on May 4 that buyers signing contracts to buy homes jumped in March. A record number of homeowners, more than 10 percent, were delinquent on their mortgages in the first quarter, according to the Mortgage Bankers Association. The flood of foreclosed homes on the market is weighing on prices.
OK Sean, “‘What about the price of my home? Should we sell now or wait out the storm?”
Both great questions! Call me immediately at 201-427-1020 for your free personal and confidential property evaluation.
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