Prices Thwarting Housing Market Recovery

Morris Segall      economic recovery, home prices, home sales, homeowners, housing market, new homes

How many times recently have you heard homeowners complain that they are in the market for new homes, but wouldn’t even consider moving because they know they can’t get what their current houses are worth? That, in short, is the problem with today’s U.S. housing market. The demand is there. Unfortunately, pricing is not. As a result, prices are thwarting a recovery in the housing market. Morris Segall, President of SPG Trend Advisors, predicts the housing market won’t return to pre-recession levels until prices on existing homes firm and start moving up. That could be 2013, at the earliest. See Segall’s comments in a recent article in the Baltimore Business Journal: http://www.bizjournals.com/baltimore/print-edition/2011/06/17/is-latest-baltimore-area-housing-data.html?page=all