The banks won’t be stupid to flood the market with all foreclocured houses and push down the house price. They will only put them on market little by little, keep the price stable and they won’t lose too much money from selling the house in lower price than 2006/2007.
Also, the mortgage rate is much lower than before, it attracts people to buy now. Locking a lower rate is better than waiting for the uncertain further housing price drop. US prints money, your cash worth less is a big issue too.
Even though the inventory can be last for a year or more, the later you pick up from this pool, the fewer you can pick. People start to pick early, they have more and better choices.
Houses in good areas don’t drop as much as other areas. Go to see the houses or visit sale offices, feel the real market, buyers are going in and out
in good areas with reasonable price. Some good areas, buyers are in waiting list for the new houses.
