Signs Of Market Improvement Seen

November 20, 2008

Despite our serious economic problems, there are signs of improvement in the housing market, according to a report from Housing Predictor, a real estate research firm. The positive indicators should become apparent in the majority of housing markets in 2009. Some local housing markets are now approaching their bottom from an economic point of view, and will soon see an upward trend in home sales.

Also, the study found that buying habits of many consumers remain relatively strong despite the fact that many have tightened their spending habits due to the high cost of gasoline and groceries. But the nation’s consumer spending, comprising 70 percent of the economy, remains relatively strong, the report stated. Home sales in many markets are already improving from previous lows, including markets in California, Florida and Michigan - three states that have been hit hardest. The increased sales are attributed to lower home prices and price cuts by lenders selling foreclosed properties, according to the report.

Posted in Real Estate