Will the housing market, hear in Fairfax, increase, decrease or stay the same?

Question

I know that house prices have gone up a lot these past few years, but what will happen now?

Answer 1

House prices nationally are going to decrease. Real estate is very cyclical. We've been through the good times for the past decade. Now we are going to suffer the consequences of over-building and loose credit.

Foreclosures are increasing, having doubled since last year. They'll probably double again next year, as many more "teaser" rates reset higher.

All these forclosures along with the highest housing inventory for sale in history will weigh on prices. Expect them to keep falling.

Sorry to bring you bad news, bu I've owned a small construction company for over 2 decades and that's what I see.

Answer 2

expected to decline by 6 %