Directon of The Real Estate Market

As a Realtor one of the most common questions that I am asked is,What is happening with the real estate market? Like so many other individuals,I am painfully aware that we are in the middle of a major downturn in the market.The reasons for this downturn is complicated and is due to a much needed correction and the fact that we are seeing a higher number of distressed properties,changing lending requirements and uncertanty in the job market.National real estate reporting services such as The Case Schiller Index NAHB?Wells Fargo Housing Opportunity Index and National Association Of Realtors are showing an interesting mix of housing numbers.In many communities we are seeing the number of sales going up with prices going down while the creation of new homes in many communities being lower than prior years.
The sales data varies in each geographic area and in individual communities.Rather than trying to look at national trends,its more important to look at specific reagons if you are looking to sell or purchase a home.If interested in specific details,please feel free to ask a Realtor such as  myself