House prices falling?

[Anonymous]

With the interest rates going up, are the house prices falling? I see lot of houses just sitting and prices being dropped in my sought after neighborhood. Would the prices keep falling? Should I wait to buy? We have a small place and was hoping to get a bigger place in the same school district, but now thinking we should wait to buy.

[Anonymous]

I think a lot of sellers have thrown in the towel. It's going to take a while for the inventory issue to shake itself out.

[Anonymous]

I mean--- buyers have thrown in the towel! Because sellers aren't in a position to sell, and even if they were, what would they buy? Same old song.

[Anonymous]

Anonymous wrote:With the interest rates going up, are the house prices falling? I see lot of houses just sitting and prices being dropped in my sought after neighborhood. Would the prices keep falling? Should I wait to buy? We have a small place and was hoping to get a bigger place in the same school district, but now thinking we should wait to buy.

No, home prices won't fall because interest rates increase. It doesn't work that way.

[Anonymous]

Sounds like another real estate agent trying to create a false sense of panic to buy

[Anonymous]

Anonymous wrote:

Anonymous wrote:With the interest rates going up, are the house prices falling? I see lot of houses just sitting and prices being dropped in my sought after neighborhood. Would the prices keep falling? Should I wait to buy? We have a small place and was hoping to get a bigger place in the same school district, but now thinking we should wait to buy.

No, home prices won't fall because interest rates increase. It doesn't work that way.

Yes, home prices will fall because interest rates increase. It works that way.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:With the interest rates going up, are the house prices falling? I see lot of houses just sitting and prices being dropped in my sought after neighborhood. Would the prices keep falling? Should I wait to buy? We have a small place and was hoping to get a bigger place in the same school district, but now thinking we should wait to buy.

No, home prices won't fall because interest rates increase. It doesn't work that way.

Yes, home prices will fall because interest rates increase. It works that way.

No, it really does not.

[Anonymous]

yeah, there are tons of first time buyers sitting on mounds of cash about to enter the market, they usually represent 40% of existing home sales but have been trending at 29%, sure that return to the mean and shoot up prices.

[Anonymous]

Again, doesn't work that way:

http://www.forbes.com/sites/billconerly/2012/12/18/when-mortgage-rates-rise-will-home-prices-fall/

[Anonymous]

Anonymous wrote:I mean--- buyers have thrown in the towel! Because sellers aren't in a position to sell, and even if they were, what would they buy? Same old song.

That will increase prices, then. Lower inventory, higher prices.

[Anonymous]

Anonymous wrote:yeah, there are tons of first time buyers sitting on mounds of cash about to enter the market, they usually represent 40% of existing home sales but have been trending at 29%, sure that return to the mean and shoot up prices.

Unless they pack up and move elsewhere.

[Anonymous]

Not hardly, around us stuff is still selling quickly.

[Anonymous]

Anonymous wrote:Not hardly, around us stuff is still selling quickly.

Agreed. Still selling briskly in my area with high prices.

[AroundTheBlock]

Housing market always slows down this time of year. As summer very slowly transitions into fall less people are buying. Happens every year. Good thing is you can find quality properties at 10-15% discount during the off year.

[Anonymous]

I think if you wait, prices will continue to rise and the higher interest rates will only add insult to injury.