A pretty balanced view here from across the housing industry on the ongoing challenges for the housing market. For regular readers, this will be familiar stuff:
Executive summary: Lack of jobs/economic growth and too-stringent lending standards tamping down demand. Meanwhile, foreclosures and forced/distressed sales continue to top-off the supply side of the equation. End result is prices are likely to remain in a flat-to-lower glide path for some time, depending on the strength of local economies.
Key Takeaway (ours, not the video):
Home sellers should consider doing so sooner rather than later – the supply issues and flat to lower pricing outlook are going to favor those that sell today, not tomorrow.
Home buyers? Hard to be on the sideline here when just a 1% rise in rates will wipe out any savings you might gain from even a 10%+ drop in the price of homes going forward.