The big news earlier this week was that pending home sales in March were up 21% vs. the same period in 2009. While that sounds promising, it must be kept in mind that many buyers were rushing into the market to take advantage of the homebuyer tax credit, which expired at the end of April.
At the same time, we’ve been assured that the economic recovery is underway. Then again, we’re still facing a significant number of mortgage resets over the next year or two. So what does the future of the housing market hold?
Given all of this uncertainty, I thought it would be interesting to run another poll, this time focusing on when the housing market will recover.
Yes, I do realize that real estate is highly localized, and that it’s difficult to give an answer for the market as a whole. Just do your best. 🙂
And, as always, please feel free to chime in with a comment to give some context to your answer.