Thursday, April 13, 2006

Housing Market To Stay on High Plateau

Home sales should remain strong this year according to a report just released from the National Association of Realtors. The association expects sales to move up and down somewhat over for the rest of the year, but are predicting 2006 as being the third strongest year in history.

NAR President Thomas M. Stevens from Vienna, Va., said home prices are expected to cool, but not as much as in earlier projections. Click here to read the full report.

So if you were waiting for the real estate market to go bust before you buy, you probably shouldn't hesitate any longer. Visit our website, www.ButlerTeamHomes.com or contact us by phone, 866-222-0158 #550 or e-mail. We will show you how you can take advantage of this strong market and low interest rates.

2 Comments:

At 2:31 PM, Blogger va beyatch said...

I guess I'm the only one that reads your drivel, but I must say I would not trust this information.

Inventories are starting to increase heavily, and many of the cities across the USA that are hot for housing are showing very large slowdowns.

Hampton Roads was behind the other cities in the runup, and might lag a bit behind the other cities in the fall. Perhaps it's because people here aren't very smart. Just look at all the bible heads.

It *WILL* fall.

Check out the inventory numbers. Thru the roof. And mortgage companies are starting to loose their ability to write loans for anyone that can fog a mirror. With some 4000 condos (overpriced apartments) coming online and more in the works, you know there aren't going to be enough buyers.

Did you know that recently it was possible for people to get loans for $999,000 with no proof of job or income? If that isn't madness I don't know what is.

I *can't wait* for the crash!

If anyone wants to fight my point of view, email me at bubbleboy@757.org

 
At 7:56 PM, Anonymous Anonymous said...

It's dangerous to apply national housing statistics to local markets given that there's so much variance. Interior states in general haven't seen that much in terms of price increases whereas costal areas have seen monstorous appreciation. And it's precisely these areas that are now seeing dramatic downturns that tends to get masked in the national statistics. Look at the drop in sales in bubble states like Florida, Virginia, and California.

The D.C. area seems to be experiencing a full blown crash (or at least a very hard landing) even if the nation as a whole isn't. Hampton Roads has seen similar price appreciation and is now exhibiting a disturbingly familiar symptom -- relentless and dramatic inventory increases. Almost on the order of 5% weekly, and so far it doesn't show any signs of slowing. Plus D.C. seems to have better economic and demographic fundamentals outside of real estate.

Now on top of that we have the uncertainty of Oceana's future in Virginia Beach.

If you step back and take an honest look at the "big picture" of the local housing market that all these various factors paint, it's just not very encouraging.

 

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