2007 Real Estate Predictions

Most people will agree that the future is based on past performance; it evolves from previous events, and that examining historical facts is, in part, how economists predict market movement. So, based on this year, what do you think will happen to real estate in 2007?

Let's look at what has happened in many markets in 2006. The year started with a bang as homes were still flying off the market as quickly as they were listed. But by early spring, prices began to lag. Homes languished on on the market as DOM increased. By summer, sales were flat. Now, in the slowest time of the year, many markets are experiencing price reductions of 10% or more over last year's sales figures.

Doesn't that make you curious about the direction the market is moving? Here are my Top 10 Real Estate Predictions for 2007. After you read this, tell me, what would you forecast for next year?

And here are my 2008 Real Estate Predictions

• Selling During the Holidays
  
• Strategies to Use When Home Prices are Falling
  
• Single Women are Buying Homes in Record Numbers

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_{At the time of writing, Elizabeth Weintraub, DRE # 00697006, is a Broker-Associate at Lyon Real Estate in Sacramento, California.}