With all the foreclosures headlining the news lately, it is easy to overlook the signs that we may be nearing the bottom of the real estate market.
According to Data Quick News, a May 20, 2008 Bay Area Home Sales Report stated that “Bay Area home sales edged up from a seven-month run of record lows last month, indicating that mortgage availability and an increased number of fence sitters have decided they like today’s lower prices.”
Other signs include a May 22, 2008 article put out by RealtyTimes entitled, “Real Estate Outlook: Worst is Over,” “The housing market offered some immediate hints of recovery with new home starts up by 8.2 percent last month [April, 2008] and building permits up by 5 percent.”
Furthermore, on May 23rd the California Association of Realtors reported that “Home sales registered a 2.5 percent year-to-year gain compared with April 2007, ending a 30-month string of year-to-year percentage decreases that began in October 2005.”
These are just a few of the signs pointing to the real estate market bottoming out. So if you have been waiting for the perfect time to buy a home, this just may be it.
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- CPS Real Estate
- Sonoma County, CA, United States
- From its humble beginnings as a Sonoma County storefront, our company has grown to become the premier real estate providers in the North Bay. Locally owned and operated, with over 300 professional agents, our company excels as a nimble, flexible organization, able to respond to the needs of our clients. By consistently providing first-rate real estate services in Sonoma, Marin and Lake Counties, our company has earned an enviable reputation for professionalism, integrity and creativity in all the communities we serve.