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When people make the case for the poor state of the housing market, they usually point to one thing above all others... oversupply.
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Time to Buy a House?
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Friday, 28 March 2008
New Home Pricesmonths. Purchases climbed 2.9% to an annual rate   of 5.03 million, according to the National Association of Realtors (NAOR).

The bad news is that the median price fell 8.2% year over year -- the biggest drop in four decades.

But what you won’t see on the front page of the newspaper is that now is the time to buy a house, according to the NAOR projections.

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If you go to the NAOR Web site you will see a handy spread sheet detailing the opportunity.

The Material Profits research team plotted out this chart for you. As you can see, mortgage rates are, or will be soon, the lowest in a generation. Furthermore, the NAOR predicts that the drop we are seeing now is the biggest drop we will see (-10.5%). After this summer, home prices will go up again.

Material Profits readers have played this move by buying the homebuilder, Standard Pacific Corp. (SPF). We are up 36% to date with more to come.

Christian DeHaemer
Editor, Material Profits
 
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