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Is The Market Stabilizing?

So as the year draws to a close we get a really good piece of news from Lawrence Yun at the National Association of Realtors pointing to signs of the market stabilizing.

Yun's figures show total existing-home sales - including single-family, town-homes, condominiums and co-ops - rising 0.4 percent to a seasonally adjusted annual rate of 5 million units in November. This represents an increase although slight, from an upwardly revised pace of 4.98 million in October. Yun said "Near term, existing-home sales should continue to hover in a narrow range, just as they have since September, and that's good news because it'll be a further sign that the housing market is stabilizing"

It is Going to be a Happy New Year .... I Think.

Graham Holmes - REO Banked Owned Asset Management Specialist
Vice President REALTOR e-Pro
951 634-4118
Mission Grove Realty
http://www.missiongroverealty.com/

Your Source for REPO's BANK OWNED REO FORECLOSURES in the Inland Empire

Posted by Graham Holmes - Yucaipa Hemet REO Homes on 12/31/2007 06:54 PM

Comments (7)

housing market stabilizing

7 Comments on Is The Market Stabilizing?

DEC

2007

I think you're right. Happy New Year!

Graham - we just posted about this too on our other blog. There will be a lot of opinion about it, but we too think stability will be later, rather than sooner. Still a very good time to buy though.

happy new year

I am hoping it is right and preparing for it is not.

Graham, the "I think" portion of your post is most important.....as much as we'd all like to be able to say "this is it" we just can't. I certainly know that my confidence in being able to speak accurately about "what's to come" has definitely taken a hit.

Colleen

I'm meeting TWO buyers tomorrow to write contracts...it's going to be a GREAT year!

Graham - The good news is starting to trickle in. I'm confident more is soon to follow.

Everything I have seen, read or heard seems to indicate stability is a ways off yet. There is just no way we have hit bottom yet. Still headed down. The typical downturn usually lasts 5-7 years. I know everybody wants some hope, but its just not there yet.

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