Among those who believe it's too early to hunt for bargains in the real estate market is John Burns (right), president of John Burns Real Estate Consulting, which advises large builders and investment firms. "Prices stabilize last, after sales volumes and foreclosures," he explains. "There's no way the real estate market is going to be stable next year."rnHere's the way Burns sees it: Supply and demand are way out of whack, with a more than 10 -month supply of homes on the market (that's 4.5 million homes for resale). Only when that imbalance gets worked out-which would mean a 46% decline in the inventory of homes for resale, according to his calculations-will prices start to recover.
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