September Home Sales Rise
National existing home sales increased in September by the largest amount seen in several years. Are we actually seeing signs that the real estate market has bottomed out? Home sales increased but prices are down 9% from a year ago, nationwide. Some analysts are predicting home prices could fall another 10% as the inventory of foreclosures increases. 35 to 40% percent of recent sales are either foreclosures or short sales according to the National Associaton of Realtors. The chief economist for the National Association of Realtors remains positive and says the bottom is near. The rebound in California seems to be taking hold in other areas. And, for the second month in a row, inventories have dropped. Those are really good signs of a rebound.
Wilmington NC Real Estate Market
The Wilmington NC real estate market has remained fairly stable as compared to the housing market nationally. But in September, the number of sales did decline from a year ago.Rest of the story...
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