Did The Market Hit The Bottom?
April, 16 2012
According to the National Association of Realtors,
experts of the real estate economy stated that we have hit the bottom of the market since 2009.
I am looking for properties for several of my buyers, but I can't find much available!
I would say that prices have increased since last year.
The information found in the following link from NAR is very clear.
From the National Association of Realtors:
"Pending Home Sales Ease in February but Solidly Higher Than a Year Ago"
"The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing over
1 million members involved in all aspects of the residential and commercial real estate industries.
*The Pending Home Sales Index is a leading indicator for the housing sector, based on pending sales of existing homes.
A sale is listed as pending when the contract has been signed but the transaction has not closed,
although the sale is usually finalized within one or two months of signing.
The index is based on a large national sample, typically representing about 20 percent of transactions for existing-home sales.
In developing the model for the index, it was demonstrated that the level of monthly sales-contract activity parallels the level of closed existing-home sales in the following two months.
An index of 100 is equal to the average level of contract activity during 2001, which was the first year to be examined as well as the first of five consecutive record years for existing-home sales; it coincides with a level that is historically healthy."
Veronica Cabrera, Realtor
Realty ONE Group
Huntington Beach, Riverside, San Bernardino, CA
veronicasreohomes.com
(714) 809-6521
R.E. Lic. #0143140
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