week's Real Estate stories
Real estate news By MarketWatch
Last Update: 4:17 PM ET Mar 9, 2007
More incentives and price cuts from home builders may be
needed during the spring selling season to boost sales,
according to at least one analyst. The reason: Buyers in
this uncertain market still have the jitters about buying
a home, worried that it will end up decreasing in value.
Home builders have already been heavily courting prospective
buyers for awhile now. The National Association of Home
Builders in September found that about 77% of builders were
offering a sales incentive, compared with 58% a year earlier.
But a recent report that looked at one of the hottest markets
during the real-estate boom is suggesting that now might
be the time to buy in the Washington, D.C. area -- underscoring
that local real-estate markets are unique and claiming that
buyers there might want to make a move before the housing
market begins taking off again. "Understanding the
Local Housing Market, or Making the Case for Buying a House
Now Before the Price Goes Up" was written by Stephen
S. Fuller, a professor at George Mason University.
In the report, Fuller wrote about the relationship between
the supply of available units and sales each month in the
area, and how it suggests that the market is normalizing
-- a state that is "good for both buyers and sellers."
He also points to the strong local economy and job growth
while making his case for people to buy. See full report.
As you'll read in our story about buyer incentives, home
buyers will hold out for the best deal in these shaky times.
But, in some markets, they might want to make a move while
they still have the upper hand.
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