Can housing prices go any lower?
Posted on Friday, April 27, 2012 at 8:03:54 PM
According to the most recent housing statistics from the National Association of Realtors (NAR), housing prices have started to increase in the Midwest and the South, but they've continued their down whirl spiral in the Northeast and West.
This is both positive and negative news, depending on your school of thought. Metros still experiencing a decrease in home values present a good opportunity for potential homebuyers who were ready and waiting for properties to become more affordable. In contrast, that same situation is less than ideal for home sellers trying to get the most they can.
"A potential home buyer needs to be certain that home ownership is a part of his or her overall life plan. One should not buy a home because of price or low interest rates," Jéneen R. Perkins, an accountant and consultant for Éclat Enterprises in Milwaukee, told Investopdia.
If you think you are ready for home ownership, consider the residential financing options available to you and consult with a real estate expert on your local market area.