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Real Estate Markets Stabilize

May 26, 2009

The National Association of Realtors indicated that nationwide the total number of homes sales was up by 5.1% in February. In March the homes sales figures were up by 3.2% on average nationwide.  In southern states sales were up 8.5% and 4% in the West.  Four factors are thought to have contributed to the upward trend in real estate sales.

  1. Low prices are once again atractive to investors.
  2. Banks are lending to qualified buyers.
  3. Consumer confidence has risen.
  4. Sellers have begun to realize that homes are only worth what buyers are wiling to pay.

If you are waiting for the market to hit bottom, you may have already missed it. Since it takes a couple of months for sales to close and for reporting of sales figures, current sales data is based on activity hat began months ago.   Right now it is a buyer’s market but buyers will loose some of their new-found leverage as prognosticators  reach consensus that the market is in recovery.

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