Metrostudy's September report compares the housing market to a Formula One race track, where 2012/2013 represented the straightaway, and we're about to hit the first hairpin turn: Overconfidence. According to Metrotudy, careful, precise maneuvering will be key to winning the race, particularly when buying land and lots. With new home prices increasing anywhere from ten to 25 percent nationwide, home price escalation for 2014 is expected to drop to six percent. The recommendation? "Don't buy land if it 'pencils' ONLY with a continuing accelerating rate of price escalation." Read more...

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