Would-be home buyers waiting for sellers to reduce prices further

Real Estate Cafe client, who Andy Foland, was quoted in a cover story of the Boston Globe today entitled, Consumers who could lift market not read to buy.  Andy “estimates prices in Greater Boston have been falling about 1 percent per month.  So each month they wait, they save thousands of dollars.”

Foland continued, “It’s very hard to time the bottom, but once the bottom is reached, it’s going to take a while to go back up,” he said.  “We’re happy to keep renting.”  The article has attracted over 50 comments, and a related survey asks readers, “If you are waiting to buy a home, what is holding you up the most?

The Real Estate Cafe’s 4th Annual Home Buyer Survey found that potential buyers expect housing prices in Greater Boston to continue to fall as shown on this short video clip.

Posted in Consumer surveys, Defensive Homebuying, In the News, Market trends, Price trends, Real Estate Bubble, Savings & Rebates

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