RE/MAX Barometer Says People Are Buying Real Estate Again

Austrian Times:

Now just might be the time to buy the property of your dreams, according to global real estate franchising network’s RE/MAX Real Estate Barometer that took the pulse of the market in the autumn of 2009.

The report’s optimistic conclusion is that people are buying again and that the market is stabilizing. Vienna-based RE/MAX Europe CEO Chuck Lemire said: “The reason for a weak market in some areas was that people did not get loans from banks. Although there is still a lack of available mortgages, lower prices are making people buy again.”

There are ample offers in the market, and owners are being forced to sell for less. The largest price declines have occurred in the luxury property segment, both for rentals and for purchases.

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