Jun 7, 2009

First Sign that the Real Estate Market is rebounding

How can you tell when we've reached the bottom of the real estate market? The mortgage rates start to go up and the number of sales start to rise. Well, the interest rates have started up and so have pending sales. So if you have been waiting for the bottom, we just passed it.

Over the next 20 to 50 days, the market will tell us whether the real estate recovery is genuine. Consumer spending and confidence should start a slow rise. The end of this month will mark the end of the 2nd quarter and the release of corporate earnings. If the top line growth for stocks stays steady, and the economic growth stays anywhere on the positive side, we're good. If that doesn't happen, and the economy softens, we may see mortgage rates drop back a little.
Current economic indicators are a little bullish. The experts are indicating that the market is starting a slow rise. I agree.

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Ben said...

Here in Phoenix, we have certainly passed the bottom. Prices are actually RISING in almost all areas (except for the $400k+ areas). ListingSupply.com shows that the amount of homes for sale in CA, AZ, and FL, have been falling steadily, and I presume the same is true in TX. TX will also benefit from wealthy folks fleeing states with high taxes.