Consumers remain unsure about the direction of the housing market, but are optimistic about real estate values, with 46 percent expecting prices in their area to increase over the next year. Just 12 percent expect prices to decline, the survey found.
Gee, do you think expectations have anything to do with their decision to purchase?
Another month or two of bad numbers coupled with a dow below 10K, will deter many potential able buyers, of the quickly depleting pool, and exacerbate the downward trend. Actually, when you think about it, the tax credit probably made the next downtrend more severe because it pulled demand forward and further depleted the pool. The Fed is squeezing blood from a turnip at this point.
