When is real estate going to turn back around?

Question

It seems like with projected populations and things like that there could be a good guesstimate

Answer 1

Yes, you're right the population growth will help. In fact, that's been one reason that real estate has been in a pretty good uptrend overall for many years.

Real estate in general is a cyclical business and right now, even though there are some hot spots, it's been in a little bit of a pullback due to the escalating interest rates.

For the short term, you should see a lot more continued foreclosures, etc in the market. As such, you'll see new home builders cutting their prices as well to stave off accumulation of inventory.

This will continue to depress home prices. But, it presents some great buying opportunities.

As the balance of inventory works itself out and when interest rates decline again, it should spark real estate to continue going back up again, but it might not be for a few years.

I guess we'll see!

Answer 2

It depends on what area of the country you are in. Eventually they believe the markets will go back. Right now they are going down because of the interest rates increased by the Feds each quarter. Once this balances out, I think house prices will stabilize or increase. Right now in Colorado, it's projected to stay down or get worse for a little through next winter. Good time to buy if you can get in.