- The rate of REO’s (real estate owned by the bank) coming onto the marketplace has slowed across the country.
- In May, sales prices for existing homes rose 3 percent from April levels.
- The number of Sold Homes surged in California, Nevada, Arizona and other hard hit area’s of the nation.
- Even in Las Vegas, the epicenter of the crash, sales prices are firming and seller’s are receiving near full asking price, albeit at a 50 percent discount to pre-crash levels.
- Inventory levels of existing and new homes has fallen in recent months.
- The doomsayers were wrong about runaway inflation and rising rates. 30 year fixed interest rates remain at a very attractive 5.5 percent and banks are lending money.
- Stocks of pubically traded home building companies have moved off their bottoms and are trading within a sustainable uptrend range.
- The number of housing starts increased for the first time in months. Since financing for speculation homes is hard, if not impossible to obtain, we assume these homes are already sold before construction begins, signaling demand.
- Large home builders are starting to acquire select tracts of land for future development.
- The rate of borrowers receiving notice of foreclosure has seen a meaningful decline of late.
How to Know We Have Hit Bottom
July 24, 2009 by admin
Filed under Positive Real Estate
10 Signs of a Bottom in Housing:
10 Noteworthy observations and signs include:
Source: http://www.infotube.net/blog/2009/07/10-signs-of-a-bottom-in-housing.html
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