I am surprised to learn that home prices have fallen so much in 2011, thought that they had bottomed out. Why are home prices still declining ?

What is the pricing outlook in 2012 ?
(0) | asked by: John Washington | share | 31 months ago | Report

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answer by Winston Heverly   |   Visit My Website   |   Contact Me
Prices continue to fall in some areas and have risen slightly in others. Nobody really knows when the bottom will occur, though it looks like we are there now. Most markets still have an incredible amount of inventory to sell off like Maryland for example which has close to 5 years. My belief is we will be flat for the next 3-7 years. To buy now should be for reasons of shelter, unless you are an investor.
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answer by Anthony Taylor   |   Visit My Website   |   Contact Me
Well it's a buyers market now and it's many buyers out there.
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answer by Equi Janice   |   Visit My Website   |   Contact Me
Prices may now be stabilizing. Decline caused by distressed properties predominating the market. Now there is a shortage so this may nudge prices upward. It seems to go up and down somewhat due to the time it takes for some short sales to closs.....they may have been under contract for a long time and if on the market today the market price could well be higher than when the home originally went under contract.
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