Zillow Chief Economist: It’s Time for Home Buyers to Start Shopping
Humphries says 2012 will be a confusing year for consumers. The housing market is in a bottoming process, and during that process a lot of indicators (home sales, home prices) go in different directions. He encourages people to pay attention to the yearly changes rather than monthly blips.
Stan also offers his advice for home buyers looking to time the market bottom. Often consumers get hung up on home values and don’t pay enough attention to interest rates. He says home buyers need to think about the overall financing of the home, not just the initial sticker price.