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Real Estate Chart of the Day
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Based on the last several months of real estate data, it appears as if home buyers are about to lose their upper-hand. When they do, buying a home won't be nearly the "deal" it may feel like today -- especially once mortgage rates head back up and after the $8,000 First-Time Home Buyer Tax Credit expires December 1. They say this is a Buyer's Market. It's only a buyer's market if you actually buy.
Taking a step back from the headlines, we clearly see the other side of the story, the one that shows that the number of buyers are increasing; that builders are cutting back; that banks are keeping homes off the market; that Fannie Mae is giving investors permission to bid at auction. The Supply and Demand curve is shifting. It's providing the framework for a national housing recovery.
