Has Housing Reached a ‘Recovery Path’?

Douglas Zeller — Sat, 23 Apr 2011 16:34:02 +0000

Sales of existing homes rose slightly in March, marking the sixth consecutive monthly rise for existing home sales in the last eight months, the National Association of REALTORS reported Wednesday.

“We’re clearly on a recovery path,” says Lawrence Yun, NAR chief economist.

Existing home sales rose 3.7 percent in March from February, as distressed sales, such as those in foreclosure, continued to make up a big bulk of home sales (40 percent of all purchases).

“At this point, we’re likely to see a steady improvement in sales,” says economist Joel Naroff of Naroff Economic Advisors.

View what economists have to say about who’s buying and currently driving the market at: http://www.realtor.org/RMODaily.nsf/pages/News2011042101?OpenDocument

Based on these sources: “Rising home sales point to a recovery; Prices expected to keep falling 5% to 7% this year,” USA Today (April 21, 2011), “U.S. Home Sales Top Forecasts in March,” The New York Times (April 21, 2011), and “Rich People Buying Homes Again–Should You?” AOL Real Estate News (April 20, 2011)

Other articles relating to the Sacramento and Placerville, California regions at: www.sierraproperties.com

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Bud Zeller — Wed, 02 Jun 2010 23:18:34 +0000

The overall number of El Dorado County area home sales continues to increase. The 198 April sales were the most in a single month since June of 2006. Home sales were 13 percent above March and 50 percent better than a year earlier.

Some housing economists believe the worst is over and positive forecast are coming from a variety of sources. The “National Association of Realtors” also reflects encouragement. Please view and share their new economic forecast VIDEO:

ttp://link.brightcove.com/services/player/bcpid21418263001?bclid=4937830001&bctid=89312847001

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Has Housing Reached a ‘Recovery Path’?

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