On the double ...
By Glenn Roberts Jr., Tuesday, November 25, 2008.Bookmarking Sites
What the heck is going on in California?
The rate of sales for resale single-family homes flew up 117 percent in October compared to the same month last year, while the median price shot down about 40 percent (see Inman News article).
The California Association of Realtors explained that the sales surge was largely driven by areas with a high concentration of distressed-property sales (short sales, sales of bank-owned or REO properties, and sales of homes in a foreclosure process, as examples).
The record year-over-year gain in the sales rate in California occurred in the same month that the National Association of Realtors reported (see Inman News) a record year-over-year drop in the national median price of U.S. resale homes (down 11.3 percent).
Check out this Inman News graphic to view some trends on some of the pricing extremes in California cities, city areas and counties, based on data provided by the California Association of Realtors and DataQuick.
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Submitted by Jodi Suguitan on December 9, 2008 - 10:54am.
Hopefully this trend will continue. Perhaps buyers can no longer stand on the sidelines contemplating investing in real estate. There are some incredible deals to be had.
Atlanta Real Estate | Atlanta Foreclosures
Submitted by Sam Heskel on December 13, 2008 - 8:06pm.
It is good news that buyers are are starting to take advantage of the lower prices as well as the lower interest rates. I'm seeing the same trend in New York where peope are starting to buy homes in neighborhoods where the prices came down alot. For more information on the New York market visit my website: www.hmsassociates.net