Home Prices Expected to Recover in 2008 As Inventories Decline

According to the National Association of Realtors (NAR) the
real estate market should start to pick up toward the end of
this year. I also think this to be the case. The average
list price of all the homes on the market has been steadily
declining over the last couple of months and the number of
homes on the market has stayed pretty flat for about 2
months. Look for list prices to continue the decline and
the number of homes on the market to start declining over
the next couple of months. To read the NAR report visit

http://www.realtor.org/press_room/news_releases/2007/hef_jul
y07_housing_prices_recover.html

End Not in Sight

It doesn't look like the end is in sight for the housing market.
May sales were worse than April.
June Sales were worse than May.
And now according to the NAR the pending home sales are the lowest they have been since 2001.
I have been saying for a while now, if you don't need to sell, don't even try.

Check out the article here.