Will We Hit Bottom in 2011?Posted by Judy Orr on
I just read an article in Inman News about a report put out by Altos Research. Altos Research is a real estate data company and their prediction is that we should hit bottom in real estate pricing in 2011.
They feel we'll see our normal surge in the upcoming Spring selling season, but it won't mean prices will necessarily escalate. In most areas the Valley, prices have been declining since 2005. The spike in sales that usually occurs during our best months does not necessarily bring about price increases, just a clearing of inventory.
We will still have a glut of foreclosures and short sales
In my opinion, until the amount of distressed properties slows down there is going to be more inventory than available buyers. Distressed properties…
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