There are plenty of reasons to wonder why houses aren't selling yet this spring. I believe it is because in part we haven't seen the market prices hit bottom. Interestingly in a non-scientific poll at our local Realtor Caravan meeting a couple of weeks ago, about 80% of the attendees thought the market was going to stay the same, 5% thought (hoped) the market would increase sales prices, and 15% thought that we would see a decline in prices. I am a realist. I see the market around me stalled out for homes over $500,000 and slowing for homes over $450,000. There are shoppers out there, but I believe that affordability is still the main factor for most families buying today. Unemployment isn't getting better, and although some workers feel more secure in their jobs, it doesn't mean they are more secure or even happy with the way their jobs have transformed in this economic turn down. There are a variety of factors that influence house pricing growth or decline, I am not so naive to assume that nothing is possible in terms of growth, but from where I am working, it doesn't appear to be very likely. Of course I hope that I am wrong and that the wisdom of the masses who think things are stabilized is correct. Just waiting to see I suppose. Here are some interesting links to articles that were just published.....
