UtahCribs Weblog

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Affordable Housing is Stabilizing. Higher End homes still could see a double dip in lower prices.

Posted by UtahCribs, Real Estate, Homes on August 29, 2009

Some interesting news for those of you who are looking to wait on the lower end affordable housing. Experts agree that there are signs of stabilization in the Real Estate markets. However most economists agree that is on the lower end side of the market.. Which in translation means the affordable housing. Obviously your upper price ranged homes are still getting slaughtered. Duh! You mean no body wants to buy a 3 million dollar home in West Valley UTAH?

Reality Check folks. Lower priced homes / or what I call affordable, because your average family can not afford a $400,000 home is starting to stabilize and most likely has seen its bottom. The upper priced inventory could possibly see a double dip in lower pricing 🙂 Which is not surprising to me at all. More like I expected that. The point they are trying to make that majority of people can only buy in the lower priced homes, so don’t sit around thinking you are going to see another 50% drop. I mean I would love to buy a home on the East side in Sandy for $50,000 but something tells me that is never going to happen..

Enjoy…

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