how does the real esate market look this year?

Answer 1

Prices have already fallen several percentage points in many areas of the country and some contractors are trying to unload their inventories of raw land they had purchased for future construction of homes. On the other hand, mortgage interest rates continue to decline slightly which will make home purchases slightly more affordable.

If you are a buyer, now is probably the best time to be looking, as demand is lower in the winter and sellers are more inclined to be reducing their selling prices or assisting with your closing costs.

If you are thinking of selling, you might want to hold off until April-May since demand is normally higher in the spring and you will be more apt to get full asking price.

Answer 2

In Ottawa, Canada. Depending on the community, most houses are sold without going on the marker. Word gets out that your house may be for sale, neighbours or friends who want your house will hold a bidding war with your real estate agent. This happens daily and has been for the past 6 years. Most homes are sold way over the market value.

Answer 3

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Answer 4

If the market stays flat to plus/minus 3% then I would say it is a healthy market. A large increase/fall this year is highly unlikely and location specific. But overall, I would say flat to slight gains are most probable.

Answer 5

What market are you looking at? Depends on where in the country.

Answer 6

Better than 2006, not as good as 2005

Answer 7

I think it is a good time to look at buying and a bad time to think about selling.


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Answer 8

From behind my FSBO sign, it looks pretty grim. And on www.zillow.com, my zestimate keeps declining. :-(