Where are housing price headed?

5 Replies

There is this little economic concept called inflation. It means prices are going up and should continue to go up over the long turn. Sure sometimes the train runs off coarse but it always corrects to get back on course.

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LOL.  What kind of soap do you like?  The answer is very subjective and depends on where you are.  Follow the statistics and especially the jobs.  What we are seeing right now is people are leaving California.  LA and SF each are loosing about 5000 people per month.  Times on market are increasing and we are seeing more and more price reductions and re-listings.  That said, we still see the super great houses in great locations with great staging go very quickly.  Buyers tastes have become more refined.  Hope that helps.  Feel free to ask questions.

380 people are leaving NYC per day. Fun fact. 

I agree with @Dennis Maynard and think the big expensive markets are shifting. Flipped properties in my market have to priced correctly or they don't move. There are two really nice flips down the street from my house, over priced, been on market for 4+ months.