Real Estate National Market Forecast

With all the craziness going on in the stock market and our economy, people are wondering, "What about home prices?" According to the Case-Shiller price index, a lot depends on our economy. Take a look at this graph...



In a normal market, we can expect to see the bottom somewhere in 2009, with prices equivalent to 2004. However, in a severe recession scenario, we're looking at a bottom in 2011, with prices equivalent to 2001/2002, meaning an additional 25% decline.

Granted, here in New Jersey, while we've had our decline, prices haven't dropped as signficantly as the rest of the nation. However, whichever scenario happens, we're in for a bumpy ride.

Stay tunes for practical implications for Buyers and Sellers...