Is The Housing Crisis is Over?

I think so! It's my opinion that we have hit bottom. Hitting bottom doesn't mean prices are going to jump up like they were, it just means they are probably not getting worse.

I have noticed many sellers who do not need to sell are leasing their homes or just taking them off the market. I can say  that on one street in my neighborhood, out 5 that were for sale, 3 were leased last week. This will create demand. The fewer homes for sale, the more demand.

Most people forget that the housing market has slowed down for 3 years now. It was in 2005 that homes sales peaked. Furthermore, residential construction is close to 15 year lows, by the end of the year, it will probably hit the lowest level ever.

Buyers are out, we have all noticed the increase in activity in our Open Houses. If you are in the market to buy this is the time! If you are in the market to sell it is also the time to sell and take advantage of the good buys out there.

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