Real estate prices are more attractive now than before and there is a lot of demand for such properties as well. However, most deals are happening in warm weather locations like Arizona, California and Florida where real estate markets are showing maximum increase. However, Charlotte, Minneapolis, Dallas and Washington DC are doing well too.
Future of USA Real Estate Market
Research has indicated that 2011 is going to be a difficult year for USA real estate market. Experts are saying that home buyers are being cautious because of increasing foreclosures, decreasing home prices and tough lending standards.They have stated, however, that certain US communities are doing good real estate business as the sector is highly localized one. The home prices in these communities are going up as well.
The buyers are presently going for lower priced homes because of availability of facilities like low down payment financing from government and easy interest rates. These features are not available with the high priced homes.
It is expected that in 2011 the home prices would decrease slightly but the consumers are being advised to use facilities like low rates of interest, availability of great homes at the market and easy pricing.
USA Housing Bubble
The housing bubble of late 2000s is one of the worst economic crises in US’ history. The real estate markets in Alabama, Massachusetts, Arizona, Michigan, Arkansas, Nevada, California, New Hampshire, Colorado, New Jersey and several other states were hit the hardest in this economic crises. The housing prices started to decline from 2006 onwards but are yet to hit rock bottom.On 30th December 2008 Case-Shiller home price index reported the biggest drop in its history. The foreclosure rates increased in 2006-07, which contributed to problems in sub prime, credit, Alt-A, hedge fund, CDO, foreign bank and mortgage markets.
USA Real Estate Statistics
The USA real estate stats for 2011 show marginal improvement from 2010. The buyer traffic index for January 2011 has increased to 39.1 from 29.1 in December 2010. In the same period the Home Price Index has gone up from 23.0 to 26.9 and incentive index has gone up from 39.5 to 40.4. The home listings index has however gone down to 41.0 from 51.2 and time to sell index has increased from 23.1 to 29.2.| US Realty |