Saturday, December 02, 2006

The Folks At NAHB - Play It Safe

It’s a Great Time to Buy

The housing market is experiencing a cooling-off period from the boom of several years ago, making today’s economic environment the perfect one in which to buy a home. Rates are low and inventories are up, meaning more choices for home buyers. Browse the resources gathered below to discover why in today’s market, the buyer holds all the aces.
Home > Resources > For Consumers > It’s a Great Time to Buy

The National Association of Home Builders (NAHB) explain that the best way to “play it safe” is to actually buy a home. But before you go out and buy - I'd suggest to ask a local Realtor for a report about the recent inventory patterns of homes for sale in the area.

And, Wow - that's bold advice from NAHB - since the National Association of Realtors (NAR) reported that the median price of a single-family house in the third quarter dropped 1.2% from 2005. Even more dramatic than the price drops was the steep drops in the number of sales.

The decline of sales volume was off the charts in Nevada, down 38 percent. Arizona, ( - 36 percent), Florida (- 34.2 percent), California (- 28.6 percent), Hawaii (- 25.8 percent) and Virginia (- 24.4 percent).

It might be time for the NAHB to take a more "middle-ground" approach to advising homeownership - especially with the growth of stalled subdivisions.

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