The
New Hampshire Association of Realtors (NHAR) recently addressed “buyer hesitation” in the homebuying market. They noted that many buyers, particularly those who are not in a hurry, are hesitating purchasing a property because they believe that prices are likely to be lower in the near future. According the the NHAR, this represents a significant shift in the psychology of home buyers from a year or two ago (when most of them thought home prices would keep rising).
The question they try to answer is this: When will this hesitation-leaning consumer sentiment regarding housing start to turn into a now-is-the-time-to-buy attitude? They concluded that:
- if average wages continue to rise, and
- if second home buyers remain in the picture
then the consumers’ perception is likely to be that home prices are stabilizing and it's time to buy.
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