Depends what article you read and what “expert” you listen to.
According to Standard and Poor it will take 46 months to
clear up ” shadow” inventory of distressed homes. Lender Processing Services stated that Home prices are up and Corelogic Chief Economist stated it continues to depend
on what happens in the world…
I guess the experts have no idea either.
An MSN News Article asks the same question:
Homebuyers: Should you wait for the housing market bottom?
The housing market will continue its downward spiral and that means opportunities for homebuyers. Waiting for the housing market bottom may not be the smartest strategy. Here are 5 reasons to buy now — and 5 reasons you may want to wait.
To read more, here’s the source of the MSN Article on “Housing Market Bottom“. Hope it helps.
Peter Greijn is a local Realtor, and Foreclosure Expert.