BiggerPockets

Don't put a whole lot of stock into this report! Less than 1% is squat and a nationwide poll of market conditions is ridiculous to even report on since there is no such thing as a Nationwide market. Averages mean nothing from such a large area.

Here in So CAl, we have expereinced a 10% drop in the first 6 months! I bet that is not in their report.

On the residential side:

Fact: 300,000 bank owned properties listed for sale nationwide

Fact: Another 700,000 foreclosed properties not yet listed for sale so the market won't be flooded.

Fact: About 2,000,000 more loans in pre-foreclosure stages.Might be trying a loan mod,bankruptcy,short sale etc. Some are just 30 to 60 days behind but will eventually get there.

Best estimate to absorb the defaulted loans today and int he future is about a 3 to 4 year span on the residential side.

Now what you have to do is look at your LOCAL MARKET.There are small pockets where prices have continued to rise and short sales and foreclosures are almost non-existent.There was never a down turn in these area.

So don't look at nationwide data and say "Why isn't it this way in my back yard?"

Instead focus on the data of where you are investing.My area is definitely not rising.