How Safe is Housing? Buy long term or short term?

Despite declining home prices as recently reflected in an S&P/Case-Shiller home price statistics survey, on average, the nation’s top markets have experienced price appreciation by as much as 50 percent over the past five years, according to comparable data from the National Association of Home Builders (NAHB).

“It’s important to keep things in perspective,” said NAHB President Brian Catalde. “The current housing price correction is most pronounced in the once super-heated markets in California, Nevada, Florida and Arizona. In most other markets, price declines have been pretty modest.”

According to the NAHB’s comparable data tables, home prices in Los Angeles dipped 5.7 percent in the last year, but have appreciated by 88.9 percent since 2002. San Francisco home prices have declined 4.2 percent in the last year, but have seen appreciation of 46.7 percent since 2002. Home prices in San Diego have fallen by 8.3 percent in the last year, but have appreciated 54 percent since 2002, according to the report.

Remember it is time in the market that will produce the results we all desire in real estate. Trying to time the market, you will never win, but with the market we are in now you have an opportunity to buy the best home at a great price and when you sell you will be the home that has 20+ offers on it.

If You Enjoyed This Post, You May Also Like...

• Best and Worst U.S. Housing Markets
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• Investing in top appreciation areas.

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