Its important to understand that buying low and selling high is what most primary resident buyers and investors do. However sifting through this market working with buyers and sellers on a daily basis, its amazing how almost 60% of people feel like the market isnt good so im not going to buy. WHAT?! The fact of the matter is most people just cannot help themselves but wait until we get into a bull market to buy a home.
Buyers need to understand, real estate is not stocks, gold, bonds or any other asset that fluxuates on a daily basis and is effected in a way when the economy is bad real estate is bad.
Keep in mind, real estate HAS NOT GONE DOWN FOR 60 YEARS! Despite recession and wars fought over the years. What does this mean? The fact is if a home is undervalued back to 1996-2000 levels, buy.
The facts are facts:
The Pending Home Sales Index, a forward-looking indicator based on contracts signed in July, increased 3.2 percent to 97.6 from a reading of 94.6 in June, and is 12.0 percent higher than July 2008 when it was 87.1. The index is at the highest level since June 2007 when it was 100.7.