Experts Predict Change Is Coming for the Real Estate Market
Debra Gould
April 21, 2009
Klump adds, "The national housing market is recalibrating due to weak sales activity. Supply will take time to adjust to lower demand, but sellers unwilling to accept offers below their expectations will remove their homes from the market. Fewer active listings reduces buyer choice, and in time puts a floor under prices."
In other words, CREA´s chief economist sees the gradual shift from the current buyer´s market to a more balanced one, which will halt the decline in housing prices.
CREA president Calvin Lindberg is also confident that Canadian federal budget initiatives for homebuyers will have an impact later in 2009: "The increase in the Home Buyers´ Plan and the First-Time Home Buyers´ Tax Credit to cover closing costs are both important for first-time home buyers, and they are an important factor in an active housing market."
In the US, the National Association of Realtors® (NAR) president Charles McMillan also believes that the home buyer´s tax credit is a critical provision in the recent stimulus bill, and that it will result in many home purchases in the U.S. during the coming year.
We can´t deny that we´re dealing with a poor economy and a slower real estate market, but it´s important to remember that home staging works no matter what the housing market is doing.
In fact, that´s one of the beautiful things about the home staging business - it works in both a buyer´s market and a seller´s market. So while you may start your home staging business in a slow real estate market (which is the easiest time to start because prospective customers need your services that much more), you´ll be able to continue to grow your business when the real estate market turns around. And as history has proven, it always does.
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