The national media have it wrong--again!

Opinion by Jill Fuhrer, Easton, PA

It’s a buyers' market - a time when home buyers have the advantage in the residential market. A buyer’s market is one in which there are too many homes on the market for the number of buyers. Homes take longer to sell and prices fall. In contrast during 2005, when the market was at its peak, we were in a sellers' market. Sellers listed their homes and they sold in days, sometimes for above asking price.

With all the media hype about the dismal status of the current real estate market it’s no wonder buyers are holding back. But the media are behind the times. It took the media at least 6 to 8 months to figure out when the market started slowing.


So what seems to be holding buyers back if it's a buyers' market? I think the media’s negative slant as well as the infamous question of timing. What if the market falls even further? The advice we give is today is a great time to buy, and as long as you are buying a home during the real estate downturn you're doing well. No one can predict when the bottom will come until it already has and until prices start to rise again. Yes, my gut tells me you still have a few months if not several before prices stabilize.

What we know today is all good for buyers.

Home inventory is high - more homes than buyers so you can be choosy;

Interest rates are historically LOW

Prices have dropped

It’s a buyers' market - you're in control!

If you have been sitting on the fence about whether or not you should buy, I think you know the answer. Scoop up that home now before the investors do and before the prices and/or the interest rates start to rise again!