I stumbled upon this article in the Wall Street Journal by by Nick Timiraos: Four Housing Issues To Watch in 2011.
“Perhaps the biggest question facing the housing market in 2011: Is this the year housing actually hits bottom?
Home prices are expected to fall another 5% in 2011, though there are some who say price declines could be much worse. Here’s our list of four issues to keep an eye on in 2011 (or take a look-back at last year’s list):
1. Jobs: Call it a cop out because it’s so obvious, but without more tax credits to juice sales, the housing market needs job growth.
First, who’s going to buy a house when they’re not certain they’ll have a job in six months and when it looks like home prices are likely to fall another 5%? Mortgage rates spent much of 2010 at a level that hadn’t been seen since the Eisenhower administration, but it didn’t do to increase buyer demand”. Read full article in wsj.com
Let’s hope for a great real estate year.
Best, Marta Walsh North Scottsdale REALTOR with Russ Lyon Sotheby’s International Realty Pinnacle Peak office.