Fannie Mae's latest nationwide survey shows 83% of Americans believe it is a bad time to sell a house even though 78% of Americans believe home prices will remain flat or increase over the next year. This would seem to be in line with a National Association of Realtors report for July that the national median existing-home price for all housing types was $182,600 in July, up 0.7 percent from a year ago. Of course real estate markets are local and in the Orlando area the median price of all existing homes combined sold in August 2010 decreased 21.95 percent to $99,900.The number of homes that sold during August of this year that were neither short sales or REO listings was 2,662, a decrease of over 18% from the August 2009 numbers of 3,270 according to my research of the MID-Florida MLS.
It may take a massive reduction of distressed inventory and a measureable uptick in housing prices before the non-distressed home seller will start to gain any sense of confidence in the real estate market.
Photo credit by uhuru1701
Photo credit by uhuru1701
1 comment:
i would say its time to sit back for a little bit. But buying would be better option at this time.
Laddi
http://www.canadahighrise.com
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