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Even though there are hopes of economic recovery, things are moving slowly, even on the housing market front. With prime mortgage borrowers slipping into delinquency, and mortgage lenders still being tight with their qualification requirements, it is little surprise that the housing market isn’t moving much.
As a result, home prices remain flat. The latest Case-Shiller home price index shows that October saw flat home prices, and that October did not keep pace with the rest of the year. However, that may have been due to the fact that the fate of the home buyer tax credit was in doubt. Now that the credit has been extended and expanded, there are hopes that the housing market will pick up pace — and that home values (and prices) will increase.
The buyer’s market may soon be coming to an end.
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[...] index showing home prices for October was released. And, unfortunately, it showed things flattening out a bit. Analysts had hoped to see that October was on pace with the rest of the year in terms of [...]
Posted by: Housing Market Losing Momentum - Mortgage Rate News | December 29th, 2009 9:30 am |
Nice article for home prices.
Posted by: Jeff Green | December 31st, 2009 2:56 am |
Indeed, the extended home buyer tax credit has driven the market and surprisingly, home prices seem to be still in low values. This is a great combo. Good news for the housing market.
Posted by: Jeff Green | January 27th, 2010 2:08 am |