[albie]

I’m a Realtor in VA and have 8 to 10 eager buyers but no inventory. Every time a home comes on the market (priced well, good schools) it gets multiple offers. I think a lot of people are still “under water” and can’t or haven’t recovered from the 2008-2009 dip in prices. Better to hang on than go to foreclosure.

[Pollster1]

I think “home” prices being up probably reflects this. It’s not that prices for a particular size, quality, and location of home are up. Rather, the particular homes going on the market are probably up in value. Low end homes are easiest to move and easiest to move into, so this gradual recovery will work its way slowly from the entry-level homes over several slow and gradual steps. As people hunker down in jobs that they would leave in a better economy, desirable homes will be slow to enter the market, and housing liquidity will work up to mid-range homes very slowly.

[kabar]

We live in a bubble in NoVA. It is far from being representative of the rest of the country.

[oh8eleven]

I’m a Realtor in VA and have 8 to 10 eager buyers but no inventory.
If you're anywhere within 50 miles of DC I can believe it.
The ever growing population of government employees needs a place to lay their weary heads.
Spending our tax dollars is quite the arduous task.

[Wpin]

There are places where home prices are good at all times...I think that there are probably more good places now than there were several years ago...but, I would not call real estate a safe bet by any means nor would I suggest that the downturn for real estate is over.

[SuziQ]

I think a lot of people are still “under water” and can’t or haven’t recovered from the 2008-2009 dip in prices. Better to hang on than go to foreclosure.

If they don't HAVE to move, they're likely hanging on, especially if they bought their homes at the height of the market. They don't want to give their homes away.