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Lynn, Home Seller in Fenner, NY

are home sale prices expected to drop in 2010?

Asked by Lynn, Fenner, NY Thu Jan 14, 2010

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Look below, there is a nationwide forecast.
http://www.housingpredictor.com/index.html
http://www.housingpredictor.com/pennsylvania.html (your state)
1.6%-2.7% price increase is expected by this site depending on the city.

Pushed by the federal government's tax credit for first time buyers and a growing pool of investors, Pennsylvania housing markets are projected to pull out of the national downturn earlier than many other places in the U.S.

Is the forecast any near right? Come back next december and find out. That is the best I can give you.
0 votes Thank Flag Link Thu Jan 14, 2010
It is difficult to really say either way if home prices will continue to drop or if they will start to appreciate. On one side you could say that with all the homebuyer tax credits and the fact that were supposedly (major word being supposedly) through the worst of this recession then you could argue that the housing market has hit bottom. On the other side you can argue that the tax credits are only temporarily inflating the marker and all the ARM loans about to reset could trigger even more foreclosures and drop home prices even more.
0 votes Thank Flag Link Thu Jan 14, 2010
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