Tuesday, May 5, 2009

Now best time to buy home, Houston economist says

"The single-family housing market may prove to be the strongest of all of Houston’s real estate sectors as the area plods through the economic downturn and global recession, said local economist Barton Smith at his annual real estate symposium Tuesday.

Even though the recession is just now beginning to unfold locally, this could be the best time to buy a home, Smith said.

Prices — already down 2 percent — may fall some more, but historically low interest rates won’t last much beyond this year."

Click here for more information on Smith's predictions.

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