A government mandated foreclosure moratorium would take about 20% of homes available off the market. I say less competition for the seller and their homes might sell, but for the buyers reduced inventory means time to buy before the prices increase. However; due to the reduction of inventory people will slowly see the prices go up. It comes down to supply and demand, and I don't think I need to cover that.
How will this effect things to come. Some experts me included think with this reduction of foreclosed homes it will only delay the inevitable . Until we can eradicate the foreclosures looming over the housing market it will not be a normal. Whatever that might look like after the fallout.
A buyer might be tempted to wait until they can see everything that is available and everything that might become available. By waiting a buyer could miss a very good buying opportunity. One may never be able to pick the abosolute bottom. Many sellers are ready to sell and are just looking for an offer.
If you like the house,property or deal. Buy it now.
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