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Is it a good time to buy?
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I suspect that we may have another downturn, but prices are up 50% in some areas from the lows of a couple of years ago. Keep in mind though that residential real estate prices are up simply because supply is much lower than demand right now, partly due to so many home developers bailing out of the market. If new home construction ramps back up, and more existing homeowners decide to list their homes, as supply goes up, prices will fall since the over all level of demand is not substantial right now. -
We definitely were in an upturn! Look at where we are compared to three years ago!Comment
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