"If prices come down by another 10% but interest rates increase by 1 percentage point, that would mean the same monthly payment today versus waiting."--New York Times 7/27/2009
"As the Fed begins to wind down its purchases in the next few months, rates will become less enticing. Analysts expect them to rise to at least 6 percent from the current 5 percent."--New York Times 10/24/2009
In 2009 the percent of total sales in the Winston-Salem, NC market were as follows
$0-100,000---30.0%
$100,000-250,000---54.2%
$250,000-500,000---12.3%
$500,000-750,000---2%
$750,000-1,000,000---.003%
$1,000,000-2,000,000---.002%
Should YOU wait until the market rebounds to sell? According to Housing Wire 9/21/2009 and Moody's analyst:
At least another decade will pass before housing prices return to peak 2006 levels, according to analyst Celia Chen at Moody's Economy.com. She wrote that housing prices will decline for another year bottoming out in the second quarter of 2010 before rebounding.
"The correction will be not only deep but also lengthy. The national price level will not regain its 2006 high until 2020."
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