IN today's realtor magazine there were multiple articles stating that the housing market has probably reached bottom, that the trend is on an upward swing, and that the jobs are starting to come back. One local economist from WEllesley COllege was quoted as saying, "I would bet even odds that we're at a bottom and that we're going to see improvement in the coming months," says Karl Case co-creator of the S&P/Case-Shiller Home Price Index.
THe building segment is also on an upswing. Building again in Florida, California, Texas, NC, and Virginia. They found that many builders reported increasing interest among move-up buyers. Builders also said that traffic was not only busy on the weekends, but was also increasing mid-week. "While the market is benefiting from the tax credit, it is also showing distinct signs of normalizing,"says Ticonderoga Securities Analyst Stephen East.
I can't help but wonder how much of this is due to the tax credit that is coming close to it's end. Will we really see a market that is normalizing, or just one that was temporarily supported by a tax credit. OF course, I hope that it is a market that is normalizing, as I am sure does most of the world, now that we have this global economy.
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