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The real estate fallout of a stalled government

Realtor Notebook
Published on Jul 7, 2011

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by CareyBot

We make predictions and projections at the beginning of the year. I remember predicting that 2011 is going to be another rough year for the housing market and that it would be a lot like 2010.

It is turning out to be worse than I anticipated. I did not factor in a state government shutdown or the increase in gasoline prices.

Home prices in my market hit a new bottom and are slightly lower than they were when we hit bottom in 2009. I don't see it as a double-dip housing recession but as a market that was heading down before being interrupted by the homebuyer and seller tax credits of the last two years.

The lowest-priced homes are selling, and after looking at June numbers I have concluded that the peak real estate selling season in my market is o