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Home Values Are Almost Back To Pre

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But as prices climbed, housing inventories have shrunk, making the market less attractive to homebuyers. In short, change in supply and demand are going on all the time, however, due to the vast majority of market participants not understanding the effects of that change – or even that change took place in a particular area, the people who do realize that values have changed will be in a position to take advantage.

In some local markets, especially those that have seen either significant new condo construction downtown or that have little available land suitable for detached housing, the median value of condos exceeds median values of single-family detached homes in the surrounding suburbs.

Home values, now back to 2003 levels, combined with historically low financing rates are fueling homes sales, both existing and new, even while homes values continue to decline due to high levels of foreclosure re-sales, which set …

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