How far will home prices fall?

April 24th, 2008 - Categories: Dothan area Real Estate Market information, Real Estate News

By: Charles Woodall

http://www.dothanhomesearch.com

I posted earlier this week that the median home price in the Dothan area has fallen almost 9% (stats from the Dothan MLS) since the peak in the third quarter of 2006. According to Yale University economist Robert Shiller, home prices could fall a lot further.

Median price rose in the Dothan area about 30% between 2000 and 2006, so having to give some back when the market turns like it has is only logical. Only time will if ours have indeed bottomed out, or if the slide resumes.

My opinion is that Shiller’s outlook is far too pessimistic, for our market anyway. Too many good things happening around here right now.

Hat tip to RealCentralVA

This entry was posted on Thursday, April 24th, 2008 at 6:18 pm and is filed under Dothan area Real Estate Market information, Real Estate News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.