Home Buyers Have More Choices

The National Association of Realtors recently published an article (Housing Market Readjusting To Normal Balance) that contained good news for home buyers. The housing market is cooling – that means more houses on the market for longer periods of time, which gives the buyer greater selection and more time to choose.

Specifically, existing-home sales are expected to fall 5.7 percent to 6.67 million in 2006 from the record 7.08 million last year. At the same time, new-home sales are forecast to decline 7.7 percent to 1.18 million from a record 1.28 million in 2005. NAR President Thomas M. Stevens from Vienna, Va, offers advice to home buyers, “…buyers may want to choose a buyer’s agent to represent their interests and help them negotiate favorable terms. Today’s market has changed a lot from the conditions we’ve seen during the last five years.”

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