During the past few months, articles have appeared in real estate publications indicating that home prices may be stabilizing.
The chief economist for the National Association of Realtors has pointed out that recent pending home sales figures have increased over the past few months. Pending home sales represent homes for which there is an outstanding agreement of sale, but the property is awaiting settlement. http://speakingofrealestate.blogs.realtor.org/2012/01/03/2012-home-sales-positives-on-many-fronts/?cid=WR01052012:38917&ed_rid=2572431
An article in Kiplinger's suggests the negatives in the home sales market are balanced by the positives, and suggests that nationally, average home sale prices may have bottomed out. Prices are not expected to rise significantly, but the Kiplinger's believes the worst is over. http://www.kiplinger.com/magazine/archives/where-home-prices-are-headed.html.
Real estate markets are local. We've seen some positive signs in Bucks County, but it's too soon to predict trends and to say our local market will mirror national trends. For those who plan to stay in a home for several years, it appears to be a great time to buy. Prices are quite attractive and interest rates are at historic lows.
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