How do you think the housing market is doing in Omaha? Is Omaha fairing pretty well?
According to an article from Omaha.com;
Trulia, an Internet listing service, showed that there was an increase in home sales that had a reduced asking price. It said that one third of all real estate sellers within the city limits of Omaha had cut prices at least once. Omaha ranked 10th highest among major cities for lowering prices.
Still, some segments of the market continue to face challenges. Omaha’s first-time market shows well in sales, the step-up market isn’t as hot and upper-end sales continue to lag. Sales of newly built homes are up 14% since last year’s low and the sale of starter homes are holding strong with minimal price cutting. Overall, home sales are up 15% over the same period in 2008 and are partly due to the $8,000 federal tax credit for first-time homebuyers.
We have been noted by Forbes who last month called Omaha the nation’s fastest-recovering city. Due to the housing market, it was the most affordable city in which to live.
So by setting realistic prices initially and taking advantage of the tax credits, Omaha should do alright.