With all off the unfortunate market conditions we have experienced, I guess we should be Thankful, that our local market has shown 10 months of increased activity over those same months last year. Locally our home sales are up 31% over the same 4 month period (January-April) and at least prices seem to be leveling off.
Maybe by the end of the year we will see some increase in prices. Markets are local and yours may be better or worse, but I think many real estate practitioners can see that we are working our way through the myriad of distressed properties.
Improved short sales rules and bank processing have made the impossible, possible. I am sure we will be working through that inventory for several years to come. But increased numbers of sales do add money to the community because many service providers get some new business. Appraisers, Attorneys, Home Inspectors, Title Companies, Lenders, Utility Companies, Insurance Agents, etc., etc. gain a little business for each home we sell.
WHILE WE HAVE NOT TURNED THE CORNER, I THINK WE ARE ON THE PATH!