What will the new year bring to the housing market?

Home prices are down, choices are plenty for buyers, mortgage rates are low and likely dropping even more; So what is everyone waiting for? The conventional wisdom is that the new year will see more buyers jumping back into the real estate market. The Housing Bubble blog says not so fast.

Readers sugested a topic on the spring housing market. “Speculating on what will happen after the New Year. I think we’ll see some real capitulation and 2008 will be the year that was. Of course, elections will play into all this. Can ‘they’ (TPTB) keep it all gamed until the elections are a done deal? Can capitulation be staved off until after the elections?”

One picked a date. “As we all know, everything will be just fine when Super Bowl Sunday comes and goes…. Have a cookie and you’ll feel right as rain….’

Another posted, “Hope will be way up there for the first few months - waiting for the spring selling season. A lot of people here have talked about a dead cat bounce on home sales. Anyone think it is up for this spring, or is it too early?”

Always the harbinger of good news that guy.