The real estate industry has been through many ups and downs, probably not as hurtful as this one, or at least not one, we remember as being so tough. According to statistics, and when we compare what housing prices were at just a few years ago, we know that the housing market is in a slump. But that can be very good because it means that now is the time to buy. At least that is what experienced real estate business investors like Dean Graziosi say. It is estimated that this is the worst housing market in 50 years, and that can be very profitable for the right investor.
The price of real estate is down by almost 20% and there are many more houses on the market today than in previous years. Foreclosures are happening on homes that were purchased with subprime debt and mortgage companies are strapped for cash.
Still there is much more pessimism and media hype than truth to all that is going on. Home sales seem to be increasing slightly, and at the current sales pace there is a bout a 10 month supply of homes on the market which is lower than that of April when there was a 12 month supply of homes still on the market.
This is great news for the investor, it means there are many homes to choose from, and all are set at the right price, with the possibility of the market increasing in the next few years. Numbers suggest that prices are close to bottoming and that demand seems to be stabilizing.
In conclusion, yes! the real estate market is at an all time low, but that could be a good thing, because it is an investors market. And the good news is that it looks like the real estate market will start leveling out and prices will start increasing somewhat over the next couple of years. Now is the time to find those real estate investing deals!