The most suitable time of the year to sell your home has become the worst time. Home sales dropped nearly 30% from July and have reached an all-time bottom in more than ten years, reported the Wall Street Journal.
What many had hoped would be the best time to sell their home has turned into a depressing statistic. Paul Dales of Capital Economics predicts housing prices will continue to drop by 5% to 30% during the recession.
The housing market is predicted to head for a double dip in home prices with several factors driving the downward slide. One factor is many more homes are being listed on the real estate market by banks. Foreclosures on are the rise and glutting the market with a 12.5 month supply of homes few are willing and able to purchase. High unemployment and wage stagnation hold steady as economic forces whose presence may continue well into the future.
Home prices stabilized last year due to the home-buyer tax credit of $ 8,000. Now the government sponsored stimulus expired April 30, 2010 and a sales drop was expected according to the National Association of Realtors. The drop-off wasn’t expected to be severe yet sets a new low for the organization since it began recording in 1999.
Speculative demand drove housing prices higher and higher as investors turned to housing to make quick profit. Fear drove many to purchase homes before the opportunity passed them by. There came a point where the prices were jacked up so high, the supply of new homes entering the market outpaced demand. Then the bubble popped in over-heated markets across America.
Now the market fear is that consumers will not purchase homes because they expect another fall in prices. Although most economists were predicting a “soft landing” for the housing market cooling, statistics are showing it is as a bust with more market correction ahead.
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Original story published here: http://homes-forsale.net/summertime-home-sales-dive/
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For most people, renting their first flat or owning their first home will result in a trip to Ikea. In reality even those who have owned or rented property for a long period of time will most likely go to Ikea at some stage.
For parents buying childrens bedroom furniture, Ikea has shown to be effective for them since they are competitively priced. There are nevertheless those who don’t want to give up on the quality of nursery furniture or bunk beds or whatever it may be. If that’s the case, maybe Ikea is not the ideal place to do your shopping.
There is no questioning the success of Ikea. The organization has been through incredible achievements all over Europe and they’ve got steadily been developing their market share in these countries. The United States is almost certainly the biggest marketplace for home furniture and if they do succeed in establishing themselves there they will undoubtedly see their total sales of £23.1 billion continue to steadily grow.
Ikea has become quite used to having persistently powerful growth figures but for the year to August thus far they’ve managed to increase sales by 1% in the UK and Ireland while total sales internationally in the same time frame increased by 7.7%.
What this figure illustrates is the sensitive state of the economic climate and consumer confidence in the UK. The lack of first time buyers on the market as well as the lack of reasonably priced property and reduced credit by the banks and mortgage brokers has all but grounded the market to a stop.
Martin Hansson, IKEA UK and Ireland country manager, said: “It has been another challenging year for us but despite the overall home furnishings market being in decline, we have delivered a small growth. By staying close to our customers we have understood they are more conscious of price but do not want to compromise on quality, design or good service. Therefore, we have focused on always offering the lowest-priced products across each area of the home.”
Founded in 1943 by Ingvar Kamprad who is now one of the world’s wealthiest men, operates in 26 countries with 280 stores. Although with 80% of their sales in 2009 originating from Europe, it is apparent that the region is key to their £2.17 billion profit. Nonetheless as the company has been expanding over recent years its profit has decreased to £17 million in the UK last year.
In spite of this, Hanssonn also went on to say that “It might be that people will want to move house less, but I believe they will want to create a haven.”
Kids Plan-it has on offer a wide range of kids bedroom furniture, which includes children’s bunk beds and nursery furniture.