Miami Congress (Dr. Yun) Pt. 3
1) Housing market activity is at its lowest rate in 10 years
2) Projected price declines are causing pessimism in the market.
3) Prices seem to have stabilized. 80 % of the homes listed are listed because the owner wants to buy a new home.
4) The high vancancy in New (vacant) homes is declining do to cutbacks in construction.
5) Long term we need 1.6 million new homes per year. In 2006 there was and oversupply. Now the input is down to 1 million homes per year.
6) Price declines have been very speedy, over time there a potential for large price increases.
continued
David Segrest is a REALTOR in Charlotte NC. His website is http://www.segrestrealty.com His email is david@segrestrealty.com
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