Expect volatility in real estate recovery BY ANDREA V. BRAMBILA

By
Real Estate Agent with Starlight Realty Certified REO & Short Sale Specialist

Inman NewsTM

Flickr image courtesy of <a href="http://www.flickr.com/photos/swanksalot/4347331718/" mce_href="http://www.flickr.com/photos/swanksalot/4347331718/">swanksalot</a>.Flickr image courtesy of swanksalot.

Despite a recent report that U.S.home prices "double dipped"in the first quarter, prices bottomed out in March and saw seasonal rises in April and May, according to real estate data company Altos Research.

"We're pretty confident that that means there is going to be a rebound," said Scott Sambucci, the company's vice president of market analytics, in a recentwebcast.

"Even though we've busted through that floor in what is called officially a 'double dip,' there's still plenty of movement upside and we're going to probably move ... back into positive ground."

In its most recent monthly report, the company found that median list prices for single-family homes rose between March and May in all but two of the markets tracked in the Altos 20-city composite. Only Las Vegas and New York showed decreases, of less than 2 percent each

Comments (1)

Lenn Harley
Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate - Leesburg, VA
Real Estate Broker - Virginia & Maryland

Sadly, those numbers freaks don't understand that IT'S SPRING TIME.

Jun 11, 2011 12:41 PM