May27 Written by:mikewest
5/27/2008 1:45 PM
The entry is also cross-published on my site: www.therealestatefrontlines.com
I’ve continued to say on this blog and throughout the website that I felt that the market would begin to stabilize, especially as we head into the summer purchasing season. I also said that the media glorifies the negatives, instead of praising the positive. (Read the Blog Post Here) Well when they have some great news about home sales, there is no way they wouldn’t and couldn’t share it. So with that being stated, statewide we saw a growth of 2.5%, but in the Inland Empire the growth was 33%. These numbers are compared to those from last year at this time. It was the first time in over 30 months that we have seen an increase. (Story Here) There have different theories as to why this is happening, namely foreclosures that are bringing buyers back into the market. What do you all of you out there think? And is this upward trend going to continue? If so will be enough to stabilize and “repair” the real estate market?
Copyright ©2008 Mike West
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