Last Two States Housing Markets Turn
In January, Montana placed all five of its markets on the Top 25 market list with forecast housing inflation, but since then economic conditions have deteriorated and show a powerful likelihood of worsening through 2009. Despite the economy, there are markets in the midst of a recovery in California and Florida with increasing home sales.
With a drop in the number of homes listed for sale, the majority of housing markets in the U.S. are experiencing the biggest buyers markets in history, the majority of which are foreclosures and short sales. The drop in home prices is providing a huge inventory for buyers.
Buyers are purchasing homes for as much as 75% off the markets highs. Markets are reeling from falling home prices with an unprecedented epidemic of foreclosures. An estimated 4-million homes have been foreclosed as the epidemic produces bargains for buyers.
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