The Housing Market: Is It Really In Trouble?

Just driving around Wichita Falls it’s tough to gauge the housing market as a whole.  Some neighborhoods seem very stable.  I drove through one neighborhood last week and saw half a dozen for sale signs within just a few blocks.  Not exactly what I’d call a sign of a housing bust.

The AP is reporting housing prices have declined for a sixth straight month, with the biggest fall in Chicago, Atlanta and Cleveland.  No shock there.   By all appearances, most of these big markets were way overpriced for way to long and now you’ve got lots of homeowners underwater.  Could it be that prices are just settling in to where they should be?

The half dozen or so real estate agents I’ve talked to are torn, it seems.  A couple of them say things are great, a couple say it’s an o-k market; a couple of them are talking about getting night jobs at 7-11.  I’ve done sales before, not real estate, mind you but sales is what it is-feast or famine, usually.

What about you?  Are you in the market or planning to be in the market for a new home?  Take our poll!