Housing Conditions - The Recovery Room - 04/27/12 09:50 AM

Looks like we're out of surgery and in the recovery room -- and a positive pulse prevails. Hot off the press data show pending home sales increased 4.1% in March, month-over-month.  The index currently stands at 12.8% above March 2011. 
 
Forecasts from a variety of sources support the strengthening pulse thesis. Barclays Capital recently noted that the spring selling season appears to have arrived with enough strength to “kick-start a positive feedback loop in housing for the first time since 2005.” Barclays forecasts . . . (read more at Bowden's Beat).
 
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Second Home Buyers - 04/26/12 11:05 AM

The National Association of Realtors (NAR) just released the results of their annual “Investment and Vacation Home Buyer Survey” which revealed that sales of investment and vacation homes rose to the highest level since 2005 last year.  Investment home sales surged 64.5% to 1.23 million units last year and vacation home sales rose 7.0% to 502,000 units accounting for 11% of all transactions, up from 10% in 2011.  It's a relatively safe bet that the second/vacation home market segment will lead the housing recovery as the ubiquitous Baby Boomer generation continues to control 70% of American household weath.  Click here … (0 comments)

Current Economic and Housing Conditions - 04/24/12 12:12 PM
 
The Conference Board Leading Economic Index® increased for the sixth straight month in March, up 0.3%, following a 0.7% increase in February. Forecasts call for continued economic momentum “past the summer months.” And -- Total housing inventory declined 21.8% in March, year-over-year, to 2.37 million homes representing a 6.3-month supply at the current pace.  Inventory has now declined 41.3% from a record 4.04 million in July 2007. Much more at www.bowdensmarketbarometer.com.  Click on Current Climate for complete rundown.  
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Judith She`

Charlottesville, VA

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