RISMEDIA, June 19, 2007-The next 12 months will be the best time to invest in the U.S. housing market, according to a new report by Housing Predictor. The sub-prime loan melt down has produced a near record level of foreclosures, providing the highest number of lower priced homes in many years in a majority of the nation’s real estate markets.
Housing prices in three out of four markets have fallen. Some markets located in California, Florida and Nevada have seen closing prices drop from their peak as much as 40%. Many markets are still suffering the after affects of the national real estate slowdown. Economists say it will take another 18 months for the markets in many states to recover with higher sales volumes.
Housing Predictor forecasts more than 250 local housing markets futures in all 50 U.S. states. Eighteen states markets are appreciating, including Texas and New Mexico, which are the strongest appreciating states in the nation. Pending sales of homes in Albuquerque, New Mexico, selected as Housing Predictor’s top appreciating market in 2007 are rising.
The over supply of inventory is making a significant impact on markets in California, Florida, Massachusetts, and Nevada among others. Investors are flocking to many markets in these states to make purchases of foreclosures or negotiate lower prices in the conventional re-sale market. The Worst 25 housing markets selected by Housing Predictor is where consumers can get some of the best deals in today’s market place.
Starts on the construction of new homes have declined as builders reduce inventories and prices to compensate for the market place throughout most of the nation. Housing Predictor forecasts that more than two million homes will be foreclosed in the U.S. in the next two and a half years, which will account for the highest number of foreclosures since the U.S. Savings and Loan Fraud scandal in the 1980′s.
However, the majority of long time real estate investors have historically made higher profits on real estate investments purchasing property when the markets saw declines, according to the Housing Predictor Investment survey, which is available on the Web site.
Higher interest rates and widespread mortgage fraud slowed the majority of the nation’s booming real estate markets, but the increasing number of new investors in real estate are beginning to show that the markets are bouncing back in many areas.
For more information, visit http://www.HousingPredictor.com.
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