Have We Reached the Final Stretch of the Real Estate Downturn?

Last week I received two real estate reports I subscribe to. Both pointed to slight decreases in unsold inventory in several markets such as California, Nevada, New Jersey, and the national average. This trend could be the beginning of the real estate recovery we’ve all been praying for. Consumer confidence rose slightly in July too, so that’s another good sign. If the recession is short-lived we could see the market coming back by next spring.

On one of my walks around town this weekend, I passed a block where three homes in a row had been for sale. One sold late this spring, and the other two now have signs saying they’re under contract. I think things are getting better in the real estate market. Houses are selling. Every realtor I speak to confirms this. It’s just going to take a while for the public at large to catch on and change their perception.

If you’re in the market to buy - start looking and buy this year. If things turn around we could see appreciating prices by the next spring market. And, by the way the spring market actually begins in February.

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