Finally, some good news for once. Today, during my lunch break I saw that the Dow Jones is up over 9,000 again. This peaked my curiosity almost immediately so I rushed to the nearest computer to see what was going on. Come to find out, over the last three months Real Estate inventories (houses for sale) are getting smaller and the prices of homes are actually rising. For anyone who owns a home this has to make you smile just a little, if not a lot.
There are going to be plenty of people who are going to say, “we’re not out of the woods yet”, and of course they are right. The experts are saying that it’s going to be at least a year before the job losses and foreclosures peak but we should take what we can get at this point. Also, you have to admit the government is literally bribing people with $8,000 for first time home buyers, so that has to be factored in as well.
Here is the quote that makes me optimistic:
“We are seeing contracts like crazy,” said Valerie Huffman, a vice president of Weichert Realtors, in Montgomery County, Maryland, where home sales are up by 42 percent over last year. “We’re having multiple bids on anything that’s priced well.” Source Yahoo News.
Granted, Montgomery County is not California or Nevada, but hopefully this will start a trend. Let’s hope July will bring similar results.
1 Comments until now.
Great point. Most people aren’t aware that home sales are indeed rising. Homes sold here in Henderson NV was one of the highest in the country and this is because home prices were able to fall to a moderate amount and now people are buying them up.
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