Real estate analyst Ivy Zelman of Zelman and Associates stated yesterday that every .25% drop in interest leads to a 3% drop in housing expense/prices. Subsequently, as a result of interest rates falling last week, real estate prices dropped 10%.
That's quite a statement...and surveys she's conducted for Builder's market has increased 20% every year.
What does this mean for home buyers? Now is the time to buy...
Check out this real estate analysis below and let me know what you think!