Just thought I would share some anecdotal information from other markets. First, the article, U.S. realtors see some light at end of tunnel from Reuters that came out earlier today highlights signs of improvement in parts of the country…
“Sales of previously owned U.S. homes rose at their fastest pace in nearly six years in February, data showed on Monday, providing some good news for the recession-hit economy.
They rose 5.1 percent in February to a 4.72 million-unit annual rate, notching their largest gain since July 2003, the National Association of Realtors said. But about 45 percent of the sales were foreclosure or short-sale transactions.”
This next message is from a Realtor I know in Southern California, who handles Rancho Santa Margarita real estate and surrounding areas…
“Business is up - lots of buyers - multiple offers on the good LOW PRICED properties - prices are holding for now. We have a great pipeline - how about you?”
We are seeing something similar. My pipeline is growing as well. With nearly 11,000 properties currently under contract (nearly at a high comparable to 2005 during peak demand), other Realtors are feeling it too.
Clearly, the trajectory is impressive here to say the least. Buyer activity is taking hold. Let’s hope it continues.
Email this Post
{ 1 comment… read it below or add one }
David we are seeing the same thing you are….pipeline is full with a lot of pendings, but things are really good. We closed about 11Million in escrow last month, all short sales, so we’re really able to capture the “upside” to all this downturn.
Thanks for the informative post -
Tracy Royce