Mortgage Broker or Lender, Melbourne, FL
Pricing is a matter of supply and demand: if more property continues to come on the market, and the demand does not change, than prices will surely drop. While prices may further drop, the interest rates are currently at the lowest that they have ever been. You would have to go back to the middle ages to find lower interest rates. So, eventhough home prices may fall a bit more, the interest rates are most likely going to rise due to increased inflation, a decreased appetite for US debt, as well as a strengthen dollar vs the euro and the yuan. I made a short video blog on the subject below. It is impossible to time the market, and you will do much better buying on the way down, vs buying when prices are going up.