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Chicago, IL —
Get ready for a double-dip slump in the housing market. That's according to the chairman of the Index Committee at Standard and Poor's.
Today new housing numbers were released and the price of homes in 20 major cities dropped 1.3 percent when compared to a month earlier. Experts were hopeful that the number would be flat this month.
Another key stat in today's report: The number of homes on the market is up about 50 percent compared to the same time last year.
This is a good one to localize:
• What do real estate experts make out of this data? Were they surprised or did they anticipate the numbers to be worse?
• Everyone is trying to use their crystal ball to predict what will happen next year in the market? What do real estate experts think? Are these year-end stats telling that more bad news is coming?
• With so much inventory on the market, sure seems like it's still a buyer's market. Since the recession started in 2007, is this the best time to buy? Could it get even better?
Get ready for a double-dip slump in the housing market. That's according to the chairman of the Index Committee at Standard and Poor's.
Today new housing numbers were released and the price of homes in 20 major cities dropped 1.3 percent when compared to a month earlier. Experts were hopeful that the number would be flat this month.
Another key stat in today's report: The number of homes on the market is up about 50 percent compared to the same time last year.
This is a good one to localize:
• What do real estate experts make out of this data? Were they surprised or did they anticipate the numbers to be worse?
• Everyone is trying to use their crystal ball to predict what will happen next year in the market? What do real estate experts think? Are these year-end stats telling that more bad news is coming?
• With so much inventory on the market, sure seems like it's still a buyer's market. Since the recession started in 2007, is this the best time to buy? Could it get even better?
