Reply to Anyone buying/looking for a house still?

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Reply to "Anyone buying/looking for a house still?"

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[quote=Anonymous]I'm not currently in the market, but I've been talking with a realtor lately.  Right now, many people are underwater or below value (what they want to get out of a house) and are waiting for the prices to rise.  Because of this, there is low inventory because only the people who HAVE to sell are actually listing their properties.  There is a backlog of buyers out there who are waiting for "good" houses to come on the market and when a good house (e.g. one that is not, as OP describes, "blah") comes on the market, there are often multiple bids which of course drives up prices.  In general, I would expect home prices to stay about the same or go up slightly, but do not expect that prices are likely to go down due mainly to the basic concept of supply and demand.  There is far more demand than supply.  While houses that are on the market right now may be overpriced, and will need to come down to the market value to sell, non-"blah" houses are not likely to drop in price.  Too much pent-up demand for them.[/quote]

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