“Real Estate Recovery” Spring test?

How the real estate market will fare in the spring home-selling season will prove a test for housing demand and show which markets will lead a housing recovery, economists say in a recent article at USA Today. Our spring selling season is March through June and the regional Placerville market is showing an increase for housing demand.

Existing home sales and pending sales are up about 9 percent compared to the same time year ago, according to recent data by the National Association of REALTORS®.

Paul Dales of Capital Economics told USA Today that he expects the spring selling season to “be the best in four or five years” for the real estate industry.

Our housing supply of for-sale homes has dropped the most and is more balanced which should be the potential of prices gaining this year. So, we’re optimistic!

Source: “Spring Home Sales Could be Omen,” USA Today (April 2, 2012)