Home Prices Dropped
Remember how we’ve been talking about how dismal the home sales market has been looking? Well apparently finally home prices have followed suit to their failing sales, and home prices have now dropped, probably due to a lower demand and market for new homes.
Booming home prices is a sign of economic expansion and growth in the US economy, so unfortunately, while lower home prices may be good if you’re on the market for a home, they are not a good sign for the US economy in terms of strength and solidarity.
Realtors are saying they are having a hard time selling homes or even getting prospects to look at them right now simply because the demand just is not there right now for Americans to be buying new homes.
When the home prices begin to go up again, this will hopefully be a sign of a better market place and a better economy. Now that consumer confidence is getting back on track, economists are hoping that home prices follow suit and start an upswing again.
