It is too early to say that the trend in real estate is up. Since March, 2009 it has been basically sideways. The October uptick may suggest that despite the local and national economic woes real estate may do its own thing.
The September, 2009 down tick may have been a hic-cup in the overall trend but it does suggest that one be cautious before reading anything into the market. It may have been a warning.
Even with the warning one would expect that with high unemployment; lack of new job creation; new taxes on the horizon both Federal and State; the increase in State tax as a loan for the next several months; lack of consumer confidence...all of these singularly and collectively will temper the real estate uptrend.
BUT as of now it looks like the market wants to get LEGS!
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