Buyer Demand, Prices & Rebound

Filed Under Sellers |

In New York, it’s important to understand what exactly is in store for the real estate market. Buyer demand is extremely important to keeping home values from dropping further. The higher demand is for home purchases, the more valuable homes will be.

One of the things that is helping real estate market sales is the tax credit for home buyers. Right now through April, 30th, 2010, buyer activity will continue to be higher because home buyers have access to up to $8000 in tax credits. This tax credit is helping homes maintain some value continuity.

From the graphic you can see that after the tax credit ends, there is nothing to help the real estate market maintain value or slow decline. Right now, buyers are looking. This is very important to remember.

Now note the graphic that shows what’s in store for price rebounds throughout the country.

As a homeowner myself, I could easily shrug my shoulders and think that a graphic is meaningless, and think that the real estate market is on the rebound already. I wish that were the case. But wishful thinking isn’t what helps people understand what’s happening with the market. Insightful analysis is what will help a seller make an educated decision about selling their home.

For more information on the Long Island real estate market, click here.

You can reach me at 631-831-9048.