A lot of folks trying to time the market don’t understand why anyone would buy now given declining prices. But the people purchasing today are those that apparently have to. According to a survey conducted by the NAR, Americans report the following most common reasons for relocating. (Remember, almost everyone has more than one reason for moving, so the percentages below won’t add up to 100%.)
-
Career Change - 48 %
-
Improve Lifestyle - 45%
-
Pursue A Relationship - 27%
-
Be Closer to Extended Family - 16%
-
Affordable Location - 15%
-
Need More Space - 15%
-
Affordable Home -13%
-
Want a Warmer Climate - 13%
One comment
“New evidence of the housing market slowdown emerged Tuesday.”
“The Office of Federal Housing Enterprise Oversight (OFHEO), which released the report, said it was the slowest quarterly increase since the fourth quarter of 1999 and was the sharpest quarter-to-quarter pullback since OFHEO began the index in 1975.”
“‘These data are a strong indication that the housing market is cooling in a very significant way’, said James Lockart, OFHEO director. ‘Indeed, the deceleration appears in almost every region of the country.’”
“‘It’s the fastest deceleration in the index in its three-decade history, OFHEO said.’”
CNN
September 5, 2006