Well it looks like we can count on one thing... no one is can predict what will happen this year. However, it was predicted that 2009 would end better than it began, and that was correct. But then again, there really was no place to go but UP. As I have said to many clients the past year, a low base and our outlook have made it a buyers market.
Looking ahead into 2010 I do see improvement in home sales and pricing. It may even be that for a time, it is a bit of a sellers market; especially as the home buyer credit is set to expire April 30th. Like the $8000.00 tax credit, sub 5% interest rates can not stay around for ever. It will be interesting to see home sale and mortgage volumes come June/mid year, when these stimuli are gone.
The overriding factor holding our economy down is the jobs market. Until we get the prospects for employment turned around, we will see a slow to no housing market increase. This is good for first time buyers who have stable ,but not as good for the rest of us.
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