Sunday, July 23, 2006

Builders holding to 2005 Prices

For the most part, builders are holding to their 2005 prices. Many are advertising 'huge reductions' which simply translates into prices are the same this year as last year. Does this mean that the 2005 home buyer from last year has lost money. The short answer is no. What is does mean is that appreciation has settled in at pre-2002 levels or about 6-8% per 18 months.

In the long run this should be good news for homeowners. Their property values are going to be on sound footing and when the time comes to sell there will be a larger pool of potential buyers.

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