Home prices take another dive

January marked the 4th straight month that home prices fell when compared to a year ago. It is the biggest slide in 11 years and is again an indicator that purchase opportunities are for those with long term holding plans only.

Lower prices apparently are helping to attract more buyers to the market. Home sales rose 3 percent from December but that was down 4.3 percent from year-earlier levels. Many of these buyers are buying with long term objectives. There is rarely a bad time for that type of purchase as real estate is statistically an excellent investment as long as you are not looking for a quick turn around. Investors however should be sitting on the fence to see how the year develops. It is expected to be flat at best.

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