State of Housing

Realty Viewpoint: New Housing Report: Rocky Road Or Reboom?
by Blanche Evans
The annual State of the Nation's Housing 2008 has just been released by the Joint Center for Housing Studies of Harvard University. Abandoning the upbeat tone of last year's report, the market analysis bluntly says that the economy can go one of two ways -- a severe recession that will take housing with it, or a mild recession which will allow housing to strongly rebound.
Realty Times July 24, 2008, Blanche Evans. Read the entire article at:
http://realtytimes.com/rtpages/20080624_realtyviewpoint.htm

According to a recently read book “Black Swan” the author strongly criticizes projections and forecasts as mostly being wrong. Looking back, most real estate economists were forecasting 2008 to put real estate back on track with recent years. Now they are saying that will take place in 2009 or maybe 2010. Bottom line – no one really knows.



Locally:

There are 14,590 single family homes in the Columbus Board of Realtors MLS active listings as of July 24, 2008. That number is up from a month ago.

The number of “days on market” is currently 120, down from prior months in the high 120’s.


Considering buying? This is a great time to get a good deal.

Have a home to sell? If you are also going to be buying, you can make up the lower sale price of your current home on the home you buy. Especially attractive if you are buying up from to a higher price range.

Jim Lubinsky
Angela Williams
Jackie Cautela
Re/Max Affiliates
614-766-5330 ext 119