Another Perspective on Irvine’s 2010 Housing Market: A New Homes Market Rebound?
In my last post, I listed some predictions on Irvine’s 2010 housing market from Larry Roberts of the Irvine Housing Blog.
Here is a different perspective. According to Mark Boud of Real Estate Economics:
“The new-home market may rebound more dramatically than the overall housing market. For example, new homes being offered on the Irvine Ranch may absorb and appreciate faster than anyone anticipates - partly due to the lack of competitive new-home inventory and partly due to a faster-than-anticipated drop in distressed housing inventory. As early as January, there may be a bit of a new home ‘frenzy’ on the Irvine Ranch.”
“…a faster-than-anticipated drop in distressed housing inventory.”? Is it that likely that the inventory of distressed homes will decrease drastically in 2010? Or will shadow inventory make itself felt in a more substantial way in 2010 than it did in 2009? We’ll see.
For more 2010 housing predictions, see “What might shock the housing market in 2010?”