Optimism Up for Spring Real Estate Market

Do you think we may be due for an uptick in the real estate market?  USA today thinks so. 

While last year was dismal for existing home sales, this year is looking better. Existing home sales in February were up 9% from the same time a year ago, as was the Pending Home Sale Index, which reflects signed contracts leading to sales, says the National Association of Realtors.

But, not all markets will see the same improvement.  Phoenix is expected to show the most gain due to a reduced supply and a strong economy.  Here in Nevada the supply is also down in large part due to the overly restrictive new law, AB 284.  When the banks finally figure how to deal with the law it may open the flood gates and again lower the prices.

I personally think the real estate market will quickly heal itself as soon as Washington gets its house in order.

Read more: http://www.usatoday.com/money/economy/housing/story/2012-04-01/spring-home-buying/53935318/1

And for more on Nevada real estate.

About rereno

Real estate investor
This entry was posted in Uncategorized. Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s