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Where is the market headed

Blog by Jacquie P. Wilson | October 12th, 2012

Where is the market headed?  There are a lot of listings and sales are down.  This usually means a "Buyers market", but, yet this seems to be more then a "Buyers market".  Sales were down last month over the previous year by 41%.  I personally think that there are too many people that will be looking for a deal for the market to go down too much.  The questiong is how much?  No one knows the answer to that question.  The nice thing is that we still have low interest rates.  Personally I think that people are still going to need to live somewhere.  If the prices do start to go down then the people that already own are going to get motivated to trade up.  Afterall the jump will be smaller.  Then when those people start to move the market will pick up again.  My prediction is that it is going to be a ten percent drop when it is all said and done.