I read the following brief report online:
Southern California's seasonal boost in home sales between February and March was less than half its normal level and a record low, and median prices of sales took a dive, according to a report today from data provider DataQuick Information Systems.
A total of 12,808 new and resale houses and condos sold in Los Angeles, Riverside, San Diego, Ventura, San Bernardino and Orange counties in March. That was up 18.8 percent from 10,777 the previous month but down 41.4 percent from 21,856 in March 2007, DataQuick reported.
On the surface this news can seem bad. But, sales are up from February, and according to past articles, February is up from January. Prices are still stagnant to negative, but people are out there looking for homes. In my opinion, if April homes sales are up 10% or more from March, then this summer is going to be huge with buyers. Right now in the "slow" months we are seeing gains; imagine what is going to happen in the summer months.
There is no bell or alarm that sounds when the market has hit the bottom. The media will report the bottom of the market 6 months after it is already on the way up. You don't have to take my word for it. If you read the media reports you will see more positive news covered in negative jargon. If you need to wait and see, I will continue to keep you posted on what is happening to give you a better idea and feel more secure in your real estate decision.
Sincerely Kevin Williamson www.williamsonteam.net