Nothing Simple With Real Estate

As houses continue to be foreclosed on and then listed for sale by lenders, these foreclosed houses come on the market and add to the supply of homes for sale. So there are now more houses on the market. Lenders-driven in part by new Federal Housing Administration, Housing and Urban Development, and Federal National Mortgage Association rules and in part by fear of future loan defaults—have tightened their lending requirements, keeping potential buyers out of the markets. This means that the remaining buyers who do qualify for loans have more houses to choose from and can play sellers against each other, driving down the prices for the houses.

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