Rise in existing home sales
Wednesday, May 27, 2009 at 05:30PM http://www.reuters.com/article/topNews/idUSN2754905920090527?feedType=RSS&feedName=topNews
As I suggested in my previous post, it appears buyers are buying the inventory which has been sitting on the market. Prices have fallen to a level where we're seeing an increase in existing home sales. Savannah Ga is experiencing an increase in existing home sales from all indications - I will try to put some statistics together in the next few days.
It's my belief the turn around in housing will be slow, but the best deals will go first. It shouldn't be too long before we see new home construction slowly recovering. This will create more jobs and more home sales, but it won't be overnight.
Be careful when you start looking for a home -- the trends have changed somewhat, and neighborhoods that seemed to be taking off before might not do so well as we get back to an active market -- a lot of it depends on if the development around these areas is completed as planned a few years ago. Call me for free consultation.
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Reader Comments (2)
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