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How are Grand Rapids Real Estate Sales doing in 2010 compared to 2009?
The chart below gives a month-by-month analysis of Grand Rapids real estate sales and listings from 2009 and thus far in 2010. And despite all the dismal forecasting in the news, the Grand Rapids real estate market isn't as far behind from last year's sales as one might think. At the end of September 2010, Grand Rapids home sales were up from 2009's sales at the end of the third quarter.
If the trend can continue into the forth quarter, which will largely be impacted due to the foreclosure moratorium still in effect with some lenders such as Wells Fargo, Realtors will be in a good position for a strong start in 2011.
And the sales trend is not only in West Michigan, it's throughout the country. From CNNMoney.com with Anally Cents reporting:
"Sales of previously owned homes rose 10% to a seasonally adjusted annual rate of 4.53 million units last month, the National Association of Realtors reported Monday. That was up from a 4.12 million rate in August.
The report came in much stronger than expectations. Economists had forecast sales to edge up to an annual rate of 4.25 million units, according to consensus estimates from Briefing. ... more
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