There is good news for homebuyers in the Bennington, Vermont area. According to the Keller Center at Baylor Universityâ€™s Hankamer School of Business, economists predicted the housing market would stabilize during 2009.Â
Despite a dramatic decline in home prices during the past two years, nearly 75 percent of the economists surveyed expect the market to bottom out no later than end of this year.
Just under half of the respondents expect the bottom to be reached by the end of the second quarter of 2009. â€œDespite that, we are now hearing reports that single-family segment of the housing market is exhibiting signs of stabilizing and here we are in the middle of the second quarter of 2009,â€ says Laura Indergard, MBA, associate director of the Keller Center at Baylor.
â€œThe predictions of the majority of the economists would appear to be on target and I think that should be reassuring to the potential American homebuyer,â€ Indergard said.
In the Bennington VT real estate market which includes Arlington, Sandgate, Sunderland, Shaftsbury, Bennington, Old Bennington, North Bennington, Woodford and Pownal, through June 10 there were 34 homes sold.Â This is nearly 50% of the number that were sold in the same time period in 2008.Â However, the bright news is that there are 28 home “under contract” which should close within 4-8 weeks.Â This is a sign that the market is becoming a little more active.
Bennington VT, Buying