Home sales and prices will continue to fall next year and more people will try to sell their homes more cost effectively, according to 2009 predictions made by ForSaleByOwner.com, the nation’s leading by owner real estate website. Based on trends among real estate consumers, it is also predicted that the Internet will continue to play a more prominent role in the selling and buying of homes, as real estate websites continue to make it easier to complete real estate transactions without paying expensive real estate commission fees.
“While 2008 will be remembered as perhaps the most painful year for real estate in decades, declines in home sales and prices will likely continue well into 2009,” said Greg Healy, Vice President of Operations at ForSaleByOwner.com. “As a result, we’re seeing new trends emerge that will affect both the industry and consumers who need to sell or buy a home.”
Healy continued, “Sellers facing lower home values will utilize the Internet and other alternatives to using an agent to avoid the expense of a real estate commission. On the buyer’s side, we expect that in 2009 the industry will reach a “tipping point” where — for the first time ever – more people will find the home they buy after seeing it on the Internet, rather than finding out about it from a real estate agent.”
“Finally, we believe the number of real estate agents and brokers will decline in 2009 and more real estate services will follow ForSaleByOwner.com’s lead in allowing sellers to advertise their home on Realtor.com without having to be on their local Multiple Listing Service,” added Healy.
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