Attention

The opinions expressed by columnists are their own and do not represent our advertisers

Thursday, September 15, 2011

When Will Home Prices Spring Back?

(MONEY Magazine) -- It was with some trepidation that Stephanie Kim and her husband, Brendan, 40 and 42, put their Chicago townhouse on the market in June. While the place was in great shape, prices in their city were off 8% from 2010 -- and of the 30 similar homes in the area listed the previous year, only nine had sold.

And yet there was an offer on the house almost immediately; the sale closed two months later at just $15,000 under the $650,000 asking price. "We thought it would take a lot longer to sell," says Stephanie.

More

2 comments:

Anonymous said...

The market will bottom out over the next couple years and probably won't come back up for another 10 years.

Anonymous said...

The prices were falsely inflated, so why would they "come back"?